Odessa Business Owner Pleads Guilty To $5.8 Million Federal Fraud Scheme
By: Dylan Brooks
Updated: January 9, 2013
MIDLAND -- An Odessa woman has pleaded guilty for defrauding several people out of $5.8 million in a 6 month period.
Darlene Aurelia Bishop pleaded guilty to one count of conspiracy to commit wire fraud in federal court on Wednesday.
Bishop -- who owned Ameritex Brokers, Paradize Funding, DarLin Enterprises, JonDar Enterprises and other Odessa businesses -- offered various "credit enhancement opportunities" through the use of Proof of Funds (POFs) letter.
Between July 2008 and March 2009, Bishop worked with several people affiliated with Apogee Financial to get and use documents that appeared to be from a bank.
Bishop also advertised the service of providing "leased funds" bank accounts -- where a client could "rent or lease" a bank account that was allegedly established in their name and funded by an investor in any amount they requested.
Bishop's POF business model was focused on the ability of clients to be able to use the POFs she sold them to get into a "private placement trading platform" that showed they had high net worth.
However, the POFs contained false information, and Bishop's clients didn't have any authority to either withdraw any money from the account or borrow against the funds in the account.
In fact, the POF was just a tool to falsely demonstrate high net worth of clients.
Ultimately, POFs were actually being used to defraud other people -- with Bishop facilitating that fraud.
Between July 2008 and March 2009, Bishop defrauded several people out of $5,854,701 through the POF scheme.
Bishop used the money gained in the scheme to buy several vehicles and a $672,000 home in Odessa.
Under the plea agreement, Bishop will forfeit the vehicles and the money from the sale of the home.
Bishop now faces up to 20 years in federal prison.
Bishop will be sentenced at 8:30 AM on March 27th.
The United States Secret Service investigated the case.
Darlene Aurelia Bishop pleaded guilty to one count of conspiracy to commit wire fraud in federal court on Wednesday.
Bishop -- who owned Ameritex Brokers, Paradize Funding, DarLin Enterprises, JonDar Enterprises and other Odessa businesses -- offered various "credit enhancement opportunities" through the use of Proof of Funds (POFs) letter.
Between July 2008 and March 2009, Bishop worked with several people affiliated with Apogee Financial to get and use documents that appeared to be from a bank.
Bishop also advertised the service of providing "leased funds" bank accounts -- where a client could "rent or lease" a bank account that was allegedly established in their name and funded by an investor in any amount they requested.
Bishop's POF business model was focused on the ability of clients to be able to use the POFs she sold them to get into a "private placement trading platform" that showed they had high net worth.
However, the POFs contained false information, and Bishop's clients didn't have any authority to either withdraw any money from the account or borrow against the funds in the account.
In fact, the POF was just a tool to falsely demonstrate high net worth of clients.
Ultimately, POFs were actually being used to defraud other people -- with Bishop facilitating that fraud.
Between July 2008 and March 2009, Bishop defrauded several people out of $5,854,701 through the POF scheme.
Bishop used the money gained in the scheme to buy several vehicles and a $672,000 home in Odessa.
Under the plea agreement, Bishop will forfeit the vehicles and the money from the sale of the home.
Bishop now faces up to 20 years in federal prison.
Bishop will be sentenced at 8:30 AM on March 27th.
The United States Secret Service investigated the case.
