Greenville man admits to $700K wire fraud scheme - FOX Carolina 21

Greenville man admits to $700K wire fraud scheme

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(Source: AP images) (Source: AP images)
GREENVILLE, SC (FOX Carolina) -

An Upstate man pleaded guilty in federal court on Tuesday to involvement in a wire fraud scheme where investigators estimate he stole hundreds of thousands of dollars.

Calvert J. Drummond Jr., 34 years old, of Greenville was arrested after telling clients he could help obtain financing for projects requiring a large amount of money. Investigators said in exchange for a fee of several hundred thousands dollars, Drummond promised bank guarantees worth millions.

Drummond was accused of creating fraudulent financial documentation and blaming delays in returns on banks.

The story Drummond told clients was fake and he stole more than $700,000 from clients during the scene.

He pleaded guilty to conspiracy to commit wire fraud and is awaiting sentencing. The charge carries up to $20 years in prison and a fine of $250,000.

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