Contractor Sentenced to 40 Months for Defrauding Cincinnati Company

Vernon Menifee, 40, of Marietta, Georgia, was sentenced to 40 months' imprisonment for defrauding Cincinnati-based Schottco Corporation and Schott Leasing Company out of $1,686,647.30 between 2006 and 2008. Menifee was also sentenced to a consecutive term of 36 months in prison for violating the terms of his supervised release on a prior federal conviction for bank fraud and tax evasion. Menifee pleaded guilty on January 25, 2010 to one count each of wire fraud, loan fraud, and conspiracy to commit loan fraud. Menifee leased 13 vehicles through Schott Leasing without paying the debt and borrowed money from Schottco Corporation allegedly to be used for construction projects for Hurricane Katrina victims that were never finished. Posted in: Deposit Account Fraud