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Date: 06-28-2022
Case Style:
United States of America v. Ronald Philip Wallace and Stace Yater Wallace
Case Number: 22-cr-00211
Judge: Philip A. Brimmer
Court: United States District Court for the District of Colorado (Denver County)
Plaintiff's Attorney: United States Attorney’s Office
Defendant's Attorney:
Description: Denver, Colorado criminal defense lawyer represented defendant charged with wire fraud, money laundering, and bank fraud.
It is alleged Ronald Philip Wallace, age 65, and Stace Yater Wallace, age 67, made false and misleading statements to obtain nearly $1.5 million in investments from individuals for the purpose of funding, production, and marketing of CBD products. Additionally, it is alleged the couple worked together to obtain over $200,000 in COVID-19 Paycheck Protection Program funds through the inclusion of false information on the loan applications.
Ronald Wallace faces nine counts of wire fraud, 31 counts of money laundering, three counts of bank fraud, and one count of conducting a monetary transaction in criminally derived property greater than $10,000.
Stace Wallace faces 31 counts of money laundering, three counts of bank fraud, and one count of conducting a monetary transaction in criminally derived property greater than $10,000.
Each count of wire fraud carries a penalty of not more than 20 years in prison and a fine of not more than $250,000. Each count of money laundering carries a penalty of not more than 20 years in prison and a fine of not more than $500,000. Each count of bank fraud carries a penalty of not more than 30 years in prison and a fine of not more than $250,000. Conducting a transaction greater than $10,000 in criminally derived proceeds carries a penalty of not more than 10 years in prison and a fine of not more than $250,000.
This case is being investigated by Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation. This case is being prosecuted by Assistant United States Attorney Robert Brown.
The charges contained in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.
18 U.S.C. §§ 1343 Wire Fraud
(1-9)
18 U.S.C. 1956 Money Laundering
(10-40)
18 U.S.C. § 1344 Bank Fraud
(41-43)
18 U.S.C. § 1957 Money Laundering
(44)
Outcome: The charges contained in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.
Plaintiff's Experts:
Defendant's Experts:
Comments: