Conway man pleads guilty to money laundering
Tue, 16 Jul 2013 14:15:14 GMT —
Marlon Davis Weaver, 55, of Conway, plead guilty in federal court in Florence, to conspiracy to launder money, according to United States Attorney Bill Nettles.
Evidence revealed that Weaver owned and operated Weaver Company, Inc., which operated as a construction company in Conway.
Weaver was awarded a contract to pave I-95 and was required to supply a performance bond before he began working.
SafeCo Insurance Company agreed to act as surety on the bond but required Weaver to provide a financial statement listing his assets prior to issuing the bond. Weaver listed his interest in Bucksport Marina and investments which he held with Gold & Silver, LLC.
Weaver defaulted on the I-95 job and SafeCo was required to pay the Department of Transportation over $6,000,000.00.
After defaulting on the job, Weaver sold his interest in Bucksport Marina for over $500,000.00, but backdated the transfer documents to make it appear that he had sold the interest before he had defaulted.
Weaver mailed the backdated documents to SafeCo's attorney who was trying to collect assets for SafeCo. Weaver deposited the proceeds from the sale of the marina in his three daughters' accounts.
Weaver structured payments from his daughters' accounts into another account, the BEJ account.
Once all of the money had been transferred from the daughters' accounts to the BEJ account, Weaver gave money to Archie Evans who owned Gold & Silver, LLC., so that Evans could structure the money into Evan's accounts at various banks.
Archie Evans previously pled guilty for his involvement in a Ponzi scheme, but Weaver was unaware of the fact that Evans was committing fraud when Weaver gave the money to Evans.
From September 2009 to October 2011, at least $1,000,000.00 was deposited into the accounts.
Nettles stated the maximum penalty Weaver can receive is a fine of $250,000.00 and/or imprisonment for 10 years, plus a special assessment of $100.00.
The case was investigated by agents of the Internal Revenue Service. Assistant United States Attorney William E. Day, II, of the Florence office handled the case.