Maryland Man Pleads Guilty To Scheme To Defraud Trucking Companies, Brokers Of More Than $1M
BALTIMORE (WJZ) -- A 43-year-old Elkton man pleaded guilty Thursday to wire fraud in connection with a scheme to defraud trucking companies and brokers of more than $1 million from May 2016 through January 31, 2019.
According to the plea agreement, William Francis Hickey III was the manager of Hickey Consulting LLC and president of Latino Consulting LLC, located in Baltimore.
Hickey managed bank accounts in both of the companies names that he used to deposit checks that were fraudulently acquired by his co-conspirators.
Officials said Hickey conspired with others, including a co-conspirator in Pakistan to plan and execute a scheme to defraud trucking companies and logistical brokers hired by shippers to arrange shipments by trucking companies.
Brokers would pay two payments to trucking companies for transporting shipments by providing a express code, allowing the trucking company to fill a truck industry check.
Truck industry checks would then deposited into a bank account, cashed at a truck stop, or other check-cashing establishments.
Officials said Hickey admitted that he and other co-conspirators obtained truck industry checks from brokers by posing as real trucking companies.
Hickey would engage into agreements with brokers to transport shipments, essentially re-brokering the same shipment to an actual trucking company.
He would then seek payment from brokers for shipping services he and conspirators did not provide.
After the real trucking company picked up the load, officials said Hickey and his co-conspirators requested a fuel advance express code to fill and deposit a truck industry check.
While depositing the check, they requested a second express code from the original broker to deposit a second truck industry check after the shipment was delivered.
Officials said Hickey deposited over 1,000 truck industry checks worth $1,171,314.11 into his business bank accounts without paying any of the real trucking companies that delivered the shipments.
Hickey faces a maximum sentence of 20 years in federal prison for wire fraud.
His sentencing is for December 20 at 9:30 a.m.
Written By WJZ Apprentice
