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Avery pleads guilty to $52 million wire fraud and money laundering scheme
 

March 8, 2007

 

Anchorage, Alaska - The former owner of Security Aviation, Inc., Mark J. Avery, plead guilty in federal court in Anchorage to five counts of wire fraud and ten counts of money laundering in defrauding the May Smith Trust of over $52 million dollars. 

Wednesday, March 7, 2007

Grand jury indicts Plano man with mail fraud and making false statements in used car sales

By Pegasus News wire

 

A federal grand jury in Dallas indicted Massoud Mortazavi-Koupai of Plano with six counts of mail fraud and three counts of making a false statement on transfer of a used motor vehicle, related to a fraudulent scheme which included concealing structural damage and odometer discrepancies. It is anticipated that Mortazavi-Koupai, 46, will surrender to federal authorities and then appear before a U.S. magistrate judge.

 

From the FBI Alaska press release: United States Attorney Nelson P. Cohen announced today, March 6, 2007, that Mark J. Avery (hereafter Avery), former owner of Security Aviation, Inc., plead guilty in federal court in Anchorage to five counts of wire fraud and ten counts of money laundering in defrauding the May Smith Trust of over $52 million dollars.

The plea agreement requires Avery to serve a sentence of imprisonment that ranges from 14 to 17 and a half years and to pay restitution to the May Smith Trust in the amount of $52.125 million dollars.

The prosecution was the result of a joint investigation conducted by the United States Attorney's Office, Federal Bureau of Investigation (FBI) and Internal Revenue Service-Criminal Investigation (IRS-CI), and was based on evidence obtained from the simultaneous execution of search warrants for the businesses of Avery in February, 2006.

As a result of those searches investigators of the FBI and IRS-CI came into possession of thousands of pages of documents detailing Avery's breach of fiduciary duty as Trustee to the May Smith Trust and May Wong Smith.

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