Damian Williams, United States Attorney for the Southern District of New York, and Michael J. Driscoll, Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (FBI), announced the indictment of FRANKLIN RAY for conspiracy to commit wire fraud, wire fraud, and aggravated identity theft, in connection with various fraud schemes relating to his operation of a trucking business known as CSA Business Solutions LLC. RAY, who was previously convicted of wire fraud and bank fraud in the Eastern District of Michigan and was released from prison in 2010, and a co-defendant, JOSEPH WINGET, were arrested in connection with certain of these schemes pursuant to a criminal complaint in early March.
U.S. Attorney Damian Williams said: “We allege Ray used his purported trucking companies as vehicles for fraud, including by submitting fraudulent applications for small business loans during the Covid-19 pandemic, and by fleecing investors into giving him tens of millions of dollars to participate in a business that was a scam. Ray knew that his actions were illegal, having been convicted of similar crimes more than a decade ago. Ray may not learn a lesson from his latest actions, but he will face justice for them.”
FBI Assistant Director-in-Charge Michael J. Driscoll said: “As we allege today, Mr. Ray, who was previously convicted of federal wire and bank fraud charges, operated a Ponzi scheme that defrauded hundreds of investors of more than…
