Broker Newswire
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Online Trading
    • Cryptocurrencies
    • Stocks
  • Markets
    • Earnings
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Saving money
    • Retirement
  • Economy
  • Tech
    • Enterprise
    • Internet
SUBSCRIBE
No Result
View All Result
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Online Trading
    • Cryptocurrencies
    • Stocks
  • Markets
    • Earnings
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Saving money
    • Retirement
  • Economy
  • Tech
    • Enterprise
    • Internet
No Result
View All Result
Broker Newswire
No Result
View All Result
Home Latest News General

Three Defendants Sentenced For Involvement In $4.5 Million Conspiracy

by Jay Helton
January 7, 2018
1 min read
0
justice scales

Scales of Justice CreativeCommons

Share on FacebookShare on Twitter

On Friday, it was announced that three defendants were sentenced for their roles in a multi-million dollar conspiracy. 30-year-old Justin Pennington, 54-year-old Marcelene M. Keesbury, and 50-year-old Charles M. French were all sentenced to imprisonment. Pennington was sentenced to five years and five months in federal prison. Keesbury and French were sentenced to three years and five months imprisonment. Pennington was found guilty by a federal jury in April of 2017. Keesbury and French pled guilty to the charges in October of 2016.

Evidence presented at trial showed that Pennington was employed as an Information Technology Director at The Wholesale House, which is an Ohio-based company with offices in Jacksonville. Pennington and his co-conspirators created a fraudulent company, 3 Kings LLC. The fraudulent company was incorporated in Delaware and was used as a way to hide the identity of the owners who bought goods from The Wholesale House and resold the products to retailers and consumers.

3 Kings illegally competed with The Wholesale House’s customers and caused significant financial difficulties for the company’s legitimate customers. In total, 3 Kings purchased roughly $40 million worth of products from The Wholesale House, but never paid its bills in full. Pennington and his co-conspirators spend tens of thousands of dollars and Pennington incurred credit card balances of up to $100,000 per month.

RELATED STORIES

Volkswagen must pay damages

Volkswagen must pay damages to buyers of manipulated diesel cars

May 25, 2020
Future Cloud Banking and Fintech

Future Cloud Predictions for Banking and Fintech Sector

April 23, 2020

At trial, Keesbury and French testified that Pennington masterminded the scheme. Owners of The Wholesale House testified that they had infused more than $7 million into the company to guarantee its survival and to protect jobs. Additional details can be found here.

Tags: 3 kingsfloridaindianathe wholesale house
Create your Web Presence with Namecheap

Recent Posts

  • Bitcoin and crypto spending is allowed by PayPal Now
  • The event in the live stream: Apple releases 5G-capable iPhone – Business
  • Volkswagen thriller: An unpopular supplier, audio recordings and a dead man
  • Tencent and WeChat also affected: Why Trump’s TikTok ban could harm Silicon Valley
  • Hacker attack on Twitter: “Group of young people” is supposed to be behind the attack on the social media platform

Category

  • Acquisitions
  • Broker Related
  • Earnings Reports
  • Economy
  • Enterprise
  • General
  • Internet
  • Investing
  • IPO News
  • Latest News
  • Layoffs
  • Markets
  • Online Trading
  • Opinion
  • OTC Markets
  • Penny Stocks
  • Personal Finance
  • Retirement
  • Saving money
  • Stocks
  • Technology

About Us

Broker Newswire (BN) is an exciting new online publication, which targets finances, brokers, mortgage and markets. BN, which is the nation’s leading provider of real estate, finance and market news and analysis.

  • About
  • Advertise
  • Privacy & Policy
  • Feedback

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Latest News
  • Investing
    • Acquisitions
    • Broker Related
    • Cryptocurrencies
    • Online Trading
    • Stocks
  • Markets
    • Earnings Reports
    • OTC Markets
    • Penny Stocks
  • Personal Finance
    • Retirement
    • Saving money
  • Economy
  • Tech
    • Enterprise
    • Internet
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.