NEWS RELEASE
UNITED STATES ATTORNEY'S OFFICE
WESTERN DISTRICT OF VIRGINIA
Julia C. Dudley Acting United States Attorney Brian McGinn Public Affairs Specialist |
BB&T Building 310 1st Street, S.W., Room 906 Roanoke, Virginia 24011 (540) 857-2974 FAX (540) 857-2179 |
October 28, 2008
LARRY ALLEN MCCLURE CHARGED WITH
WIRE, MAIL FRAUD AND TAX VIOLATIONS
Acting United States Attorney Julia C. Dudley announced today that Larry Allen McClure, of Abingdon, Virginia, was indicted by a federal Grand Jury sitting in the United States District Court for the Western District of Virginia in Abingdon, on a variety of charges releated to wire fraud, mail fraud and numerous violations of Federal Tax Law.
McClure has been charged in three separate indictments, one of which was returned today in District Court in Abingdon with three counts of mail fraud, three counts of filing a false tax return, two counts of obstructing a tax investigation, two counts of money laundering and one count of wire fraud. If convicted on all counts, the maximum penalty faced by the defendant is 115 years of Federal imprisonment and/or a fine of up to $2,750,000.
According to the indictments, in 2002, 2003 and 2004, Larry McClure filed federal income tax returns with the IRS that contained information he did not believe to be true and correct. Specifically, the defendant failed to include large payments he received from an individual (identified as “Person A” in the indictment) in each of those years.
IRS investigators learned that McClure had not reported as income large sums of money he had received from Person A from 2002-2004. Allegedly, Person A paid McClure for the use of cars in races sponsored by the American Racing Club of America (ARCA).
On April 25, 2006 IRS investigators interviewed Person A in Florida. Person A told investigators that he would have to review records in order to determine how much money was paid to McClure for the use of cars in the ARCA series. Soon after IRS investigators interviewed Person A, Person A traveled to Virginia to meet with McClure.
On May 3, 2006, McClure spoke with Person A and asked how much Person A had paid McClure. Person A told McClure he had paid him $325,000.
On May 3, 2006, a check in the amount of $325,000, signed by Larry Allen McClure’s wife, Virginia McClure, was sent to Person A. The check was made payable to Person A, and included the notation, “Loan Repayment.” Person A deposited the check on May 4, 2006.
On June 5, 2006 Larry McClure was interviewed by IRS investigators. During that interview the defendant is charged with falsely stating to the investigators that he had borrowed money from Person A three or four times while he was going through problems with Kodak and he recently paid Person A back by means of a $325,000 check written by his wife.
The indictments further allege that between January 2003 and March 2003, McClure devised a scheme to defraud and obtain money and property by false pretenses via a wire communication in interstate commerce. Specifically, the indictments charge that McClure caused invoices to be sent via a facsimile transmission from a location outside of Virginia to a location in Virginia. The invoices were obtained so Larry McClure could fraudulently claim that he spent $59,852 for the painting of four new show car trailers, when in fact the defendant had not spent $59,852 for painting those trailers.
The investigation of this case was conducted by the Internal Revenue Service Criminal Investigation’s Bristol Office. Assistant United States Attorney Randy Ramseyer is prosecuting the case for the United States.
A Grand Jury indictment is only a charge and not evidence of guilt. The defendant is entitled to a fair trial with the burden on the government to prove guilt beyond a reasonable doubt.