Houston man sentenced to 11 years in prison for 2018 wire fraud scam

47-year-old John Wesley Sarpy of Houston is now behind bars for his conviction of wire fraud, announced U.S. Attorney Ryan K. Patrick on Monday, Nov. 30. 

The FBI says Sarpy knowingly submitted fraudulent documents in an attempt to obtain multimillion-dollar loans from various lending institutions.

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On four separate occasions in 2018, Sarpy submitted such false audit reports with forged signatures and false financials to four different institutions in failed attempts to secure approximately $51 million in loans.

On Monday, Nov. 30, U.S. District Judge Vanessa D. Gilmore ordered him to serve a 135-month sentence to be immediately followed by three years of supervised release. He was also ordered to pay a $5,000 fine. The 47-year-old pleaded guilty on Dec. 17, 2018.

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“Sarpy, a recidivist fraudster, repeatedly tried to obtain multi-million dollar loans using falsified documents,” said Special Agent in Charge Perrye K. Turner of the FBI. “While the fruit of his perseverance didn't result in obtaining any money, our case agents feared that at some point he would successfully get funded with a multi-million dollar payday, all based on fraud. Our agents were determined to make sure that didn't happen, and they stopped Sarpy in his tracks.”

Sarpy was previously released on bond but violated his conditions of release when he cut off his GPS monitor and fled.

Law enforcement later found him in the Northern District of Texas and took him into custody where he remains pending transfer to a U.S. Bureau of Prisons facility to be determined soon.