Talk:Tim Beverley

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Bank Fraud and Money laundering

Tim Beverley owns what was one of the premiere corporate and commercial jet sales and brokerage firms in the country. That all came crashing down today in federal court. As part of a plea agreement, Beverley, and Tyler Jet Chief Financial Officer Greg Hopper, pleaded guilty to money laundering, and face up to ten years in jail. A two year investigation into Beverley and Hopper came to a head today when a 72-page federal indictment was unsealed in federal court. The indictment accused Beverley and Hopper of obtaining millions of dollars in loans, allegedly for aircraft repair, on aircraft that was never repaired. Instead, the money is believed to have been used to pay off other expenses surrounding Tyler Jet and Beverley's Nascar team, Tyler Jet Motorsports. In a press conference this afternoon, Becky Gregory, 1st Assistant U.S. Attorney of the Eastern District of Texas, layed out details of a massive investigation that included the involvment of the FBI, The Immigration and Customs Enforcement Department, and The Internal Revenue Service, Criminal Investigation Unit.

"An investigation that involved literally reviewing thousands and thousands of documents, of interviewing numerous witnesses," said 1st Assistant U.S. Attorney Becky Gregory. "An enormous amount of work went into this complex financial investigation to discover the nature of and extent of the fraud and the money laundering that occurred here."

Tyler Jet, Gregory Jopper and Timothy Beverley defrauded the banking institutions and individuals of approximately 20 million dollars," said Michael Schuster, Acting Special Agent in Charge for Dallas Immigration and Customs Enforcement. "This type of business practice will be investigated fully and thoroughly, with the expectation that criminal activity will be halted and shown for what it is."

While Beverley and Hopper each faced 34 counts of wire fraud, bank fraud and money laundering, they were each allowed to plead to one count of money laundering, with the expectation they will cooperate in the investigation and prosecution of others.

"Even though he pled to one count of the indictment, all of the criminal conduct will be considered," added Assistant U.S. Attorney Gregg Marchessault. Beverley and Hopper are both free on bond. Sentencing Judge Leonard Davis is mandated by law to order restitution to all the victims of this case. Right now, that loss is estimated at $18.5 million dollars. The court has begun an extensive pre-sentencing investigation that is expected to take several months.

Kevin Berns, reporting. — Preceding unsigned comment added by 201.191.255.116 (talk) 12:36, 10 June 2013 (UTC)[reply]