U.S. Attorney William J. Hochul, Jr. announced that Dwayne Ferguson, 33, of Buffalo, New York, who was convicted of wire fraud, was sentenced to four years in prison by Chief U.S. District Judge William M. Skretny. The defendant was also ordered to pay $630,000 in restitution.
Assistant U.S. Attorney Russell T. Ippolito, Jr., who handled the case,
stated that the defendant is the former owner and operator of Intihar Recovery
of New York, an automobile rental, repossession, storage, and towing services
business. Ferguson fraudulently obtained money from Nissan Motor Acceptance
Corporation, Toyota Financial Services, BMW Financial Services, GMAC Financial
Services, and Ford Motor Credit to finance the purchase of motor vehicles for
his business. The defendant submitted false and misleading documentation to
those lending institutions indicating that his business was credit worthy when,
in fact, the business had very few assets and had significant liabilities. The
total loss to all the victim businesses was $1,110,937.
The sentence imposed by Judge Skretny will be served following the
three-and-a-half- to seven-year New York State sentence Ferguson is currently
serving following his conviction on charges of possession of a forged instrument
and attempted grand larceny.
The sentencing is the result of an investigation by the Buffalo Police
Department, under the direction of Commissioner Daniel Derenda; the New York
State Department of Motor Vehicles, under the direction of Director Owen
McShane; the New York State Department of Taxation and Finance, Criminal
Investigations Division, under the direction of Commissioner Thomas Mattox; the
New York State Department of Financial Services, Criminal Investigations
Division, under the direction of Superintendent Benjamin Lawsky; and the Federal
Bureau of Investigation, under the direction of Special Agent in Charge
Christopher M. Piehota.
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