Date: 02-22-2024

Case Style:

United States of America v. Wavy Curtis Shain

Case Number:

Judge:

Court: The United States Court for the Western District of Kentucky

Plaintiff's Attorney: The United States Court for Louisville

Assistant U.S. Attorneys Joshua Judd, Erin Bravo, and Amy Sullivan prosecuted the case

Defendant's Attorney:

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Description:

Louisville, Kentucky Criminal Defense lawyer represented the Defendant charged with Bank Fraud and Money Laundering.

Defendant ordered to pay $4,455,755 in restitution

A Nelson County, Kentucky, man was sentenced to 9 years and 2 months in prison for charges related to bank fraud and money laundering.

U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Acting Special Agent in Charge Karen Wingerd of the Internal Revenue Service, Criminal Investigation, Cincinnati Field Office, Special Agent in Charge Vince Zehme of the Federal Deposit Insurance Corporation Office of Inspector General, U.S. Postal Inspector in Charge Lesley Allison of the Pittsburgh Division, Special Agent in Charge Michael E. Stansbury of the FBI Louisville Field Office, and Sheriff John Aubrey of the Jefferson County Sheriff’s Office made the announcement.

According to court documents, Wavy Curtis Shain, 42, was sentenced yesterday to 9 years and 2 months in prison, followed by five years of supervised release, and ordered to pay $4,455,755 in restitution, for one count of bank fraud and one count of money laundering.

There is no parole in the federal system.

From July 2019 to August 11, 2020, Shain engaged in a scheme to defraud two federally insured financial institutions by attempting to fraudulently refinance real property without the knowledge and approval of the true property owner, conducted sham real estate sales where the buyer and seller were unaware of the real estate transactions, and purchased real estate in the names of other individuals without their knowledge and permission. Shain also knowingly engaged in a monetary transaction in criminally derived property, specifically the fraudulent loan proceeds, by wiring the funds to a nominee company he controlled.

This case was investigated by the IRS CI, the FDIC OIG, the USPS, the FBI, and the Jefferson County Sheriff’s Office.

Outcome:

Defendant was found guilty and sentenced to 9 years and 2 months in prison followed by five years of supervised release, and ordered to pay $4,455,755 in restitution

Plaintiff's Experts:

Defendant's Experts:

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