TWO PLEAD GUILTY TO WIRE AND MAIL FRAUD IN A DEBT ELIMINATION SCHEMEMatt Boster
Posted by: Matt Boster
Date: Feb 27 2014 4:14 PM
Montgomery, AL: Bradford Lamar Daley, of Phenix City, Alabama, and Terril Yarham, of Missouri, pled guilty before United States Magistrate Judge Charles S. Coody, for engaging in a conspiracy to commit wire fraud, announced George L. Beck, Jr., United States Attorney for the Middle District of Alabama. Daley also pled guilty to money laundering and tax fraud.
According to court documents, between 2005 and 2011, Daley and Yarham solicited individuals who were heavily burdened by debt to pay them between $2500 and $5000 for debt elimination services. In exchange for the payment, Yarham promised to assume and eliminate the victims’ unsecured debt, including credit card debt, signature loans, business loans, student loans and personal loans. These debts were not eliminated as promised. During the course of this conspiracy, records show that Daley and Yarham profited over $5 million dollars. As part of the plea agreement, Daley agreed to forfeit to the United States over $5 million dollars, a beach house in Florida, almost 40 acres of land in Georgia, vehicles, and two UPS stores located in Georgia.
“Since our founding in 1772, postal inspectors have sought to ensure the U.S. Mail is not used for illegal gain,” said Robert Wemyss, United States Postal Inspector in Charge, Houston Division. “When criminals use the mail to commit fraud, postal inspectors will not hesitate to ensure they are brought to justice.”
"Daley exploited unsuspecting individuals by perpetrating a scheme that was based entirely on lies," stated IRS Criminal Investigation, Special Agent in Charge, Veronica F. Hyman-Pillot. "In addition, Mr. Daley concealed the income and failed to pay taxes on the income. IRS Criminal Investigation is committed to addressing financial fraud at every level and is proud to have worked with our law enforcement partners in this case."
“I want to thank the U.S. Postal Inspection Service and the IRS for their tireless work on this case,” stated George L. Beck, U.S. Attorney. “This district is lucky to have such capable agencies protecting the victims of financial crimes. What these defendants did was deplorable and their pleading guilty is justice served.”
A sentencing date has not been set, but Daley and Yarham face a maximum sentence of 20 years in prison, five years supervised release and a fine of $250,000.
The case was investigated by the Inspectors at the United States Postal Inspection Service and the Special Agents of the IRS - Criminal Investigation. U.S. Attorney George L. Beck, Jr. and Assistant U.S. Attorney Donald Valeska are prosecuting the case.