(FOX 9) - A Virginia man has pled guilty to wire fraud after creating a fake business to obtain payments from a Minnesota-based aircraft company.
William B. Sink, 55, of Lebanon, Virginia, pled guilty last week to one count of wire fraud after creating a business for the sole purpose of fraudulently obtaining $1.4 million in payments from Cirrus Aircraft – a provider of personal aircraft and other aviation-related products.
According to court documents, in July 2022, Sink created a fake business known as, "The Rockn U Farms, LLC."
Throughout several months, its business account received several wire transfers, which he would then transfer to various bank accounts and cryptocurrency exchanges at the direction of an unidentified co-conspirator named "Vanessa."
On Oct. 7, 2022, The Rockn U Farms LLC, received a wire transfer from Cirrus in the amount of $169,570 into the fake company’s Truist business account. The receipt for the wire transfer indicated that Cirrus intended to pay a vendor, Enviro Systems, Inc. Cirrus was given fictitious wire instructions for Enviro Systems, Inc., directing payment to The Rockn U Farms LLC account.
Sink then made several cash withdrawals of the proceeds for personal debit card expenditures at various locations, including fast food restaurants, Walmart, and the ABC liquor store in Lebanon, Virginia.
Sink also opened a business checking account, from which he made cash withdrawals and transfers to his personal bank account totaling almost $10,000.
On Oct. 13, 2022, The Rockn U Farms LLC business account received a second wire transfer from Cirrus in the amount of $159,975.
On Oct. 21, 2022, The Rockn U Farms LLC account received a third wire transfer from Cirrus in the amount of $1.1 million, again indicating that Cirrus intended to pay vendor Enviro Systems, Inc.
Sentencing is scheduled for Feb. 22, 2024. Sink faces up to 20 years in prison.