Organizer of Texas Music Festival Sentenced to Federal Prison
March 15, 2011
Total Loss:
$400,000
James Watson Jr., 55, has been sentenced to 60 months' confinement in the Federal Bureau of Prisons, United States Attorney Jose Angel Moreno announced today. United States District Judge Gray Miller handed down the sentence on Friday, March 11. Indicted in May 2010, Watson pleaded guilty to a superseding information on Nov. 30, 2010, to conspiracy to commit bank fraud, admitting that he kited a $400,000 check to Bank of America that was part of a scheme where Watson bilked at least 18 investors, including a 92-year-old woman and her 72-year-old daughter, of at least $2.5 million by posing as a successful concert promoter.
Source:
FBI
Posted in:
Check Fraud