Jennifer Rae McDonald, former Executive Director for the Economic Development Authority (EDA) of Warren County, Virginia was charged with a 34-count indictment for wire fraud, bank fraud, aggravated identity theft and money laundering last month.
According to the indictment, McDonald was delving into the county coffers between 2014 and 2018 to pay off personal credit cards and family debts. In order to move the money without raising suspicion, McDonald allegedly created fake invoices, real estate documents, and forged signatures. McDonald also used EDA funds to “purchase real property for which she often earned commissions as a real estate agent, and to purchase real property in the name of an LLC she controlled”, according to a Department of Justice press release.
The indictment does not divulge the estimated totals of the alleged fraud, though the charges are numerous totaling 16 counts of money laundering, 10 counts of bank fraud, seven counts of wire fraud and one count of aggravated identity theft. If found guilty, McDonald could face up to 20 years in federal prison for each count of money laundering alone. McDonald remains innocent until proven otherwise in the court trial.
If you or someone in your organization is under investigation for money laundering or wire fraud, it is important to consult with a skilled attorney to build a strong defense or mitigation strategy. To set up a confidential and complimentary consultation with the team at Padula Law, call (305) 455-5206.
