(Atlantic) An Atlantic businessman has pleaded guilty to one count of Wire Fraud.
On June 25, 2019, an indictment was returned against Larry Scott Fulk, owner of 2nd Street Repair, charging him with Counts 1-3 with Wire Fraud and counts 4-18 with Odemeter Fraud.
On February 21, 2020, Fulk appeared before United States Magistrate Judge Celeste F. Bremer and entered a plea of guilty to Count 1 (Wire Fraud). On the same day, Judge Bremer filed a report and recommendation in which she recommends Fulk’s guilty plea be accepted. There were no objections to Judge Bremer’s report and recommendation, therefore the court accepts Judge Bremer’s report and recommendation and Fulk’s plea of guilty to Count 1.
The crime which Fulk pleaded guilty to carries a maximum sentence of up to 20-years in prison; a maximum fine of $250,000; and a term of supervised release of up to three years.
Sentencing will take place July 9th.
Background: According to documents from the United States District Court for the Southern District of Iowa, beginning on an unknown date, but as early as October 2015, and continuing to about September 2016, Larry Scott Fulk and others devised a scheme to defraud as to material matters and to obtain money and property by means of materially false and fraudulent pretenses, representations and promises, and by intentional concealment of material facts.
The documents state that it was part of the scheme that Larry Scott Fulk would purchase vehicles on behalf of 2nd Street Repair; he would remove the odometer clusters from these vehicles and replace them with lower mileage odometer clusters. Fulk would then post and advertise the vehicles with false odometer clusters for sale on Craigslist on behalf of 2nd Street Repair to individuals at an inflated price. Craigslist servers are located in San Francisco, California, and Ashburn, Virginia. It was further part of the scheme that Fulk would sell the vehicles with the false odometer clusters to individuals in Iowa in exchange for money.
