BATON ROUGE, LA (WAFB) - A Baton Rouge man pleaded guilty Tuesday to conspiracy to commit bank fraud.
While employed as a tax preparer, Shedrick Mayweather, 68, admitted to accepting money in exchange for preparing numerous fraudulent documents using figures provided to him by another person.
From approximately 2004 until 2011, Mayweather created fraudulent W-2 wage and tax statements, balance sheets, profit and loss statements, and personal and business tax returns. These documents reflected inflated income and net worth figures. These fraudulent documents were submitted to several financial institutions in the Baton Rouge area to obtain loans and lines of credit worth a cumulative amount of approximately $3,000,000.
Some of these loans were defaulted on and, consequently, some of these financial institutions charged off these loans and experienced losses.
This is an ongoing investigation being conducted by the FBI.