Scott Co. business owner pleads guilty to wire fraud
LEXINGTON, Ky. (WTVQ) – The owner of a local produce business in Scott Co. has admitted to fraudulently obtaining business loans, by falsifying information on the loan applications.
On Monday, 52-year-old William C. Thompson pleaded guilty to wire fraud and making false statements on loan applications.
Thompson admitted that, in 2013, he submitted loan applications to receive thousands of dollars from federally funded agencies within the U.S. Department of Agriculture. In order to conceal his poor credit history, however, he used his son’s social security number on the applications. Thompson also made a false statement on the application to hide that he had previously filed for bankruptcy.
Thompson is scheduled to be sentenced on March 7, 2015. He faces a maximum of 30 years in prison.