Austin man sentenced for defrauding financing company

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An Austin man was sentenced to 24 months in prison for defrauding a financing company in 2021.

According to court documents, 38-year-old David Jenkins was the owner and president of Fukushu, Inc., doing business as Double D Services.

In February 2015, Jenkins agreed to sell Double D's accounts receivable to Momentum Capital, an accounts receivable financing company, to receive payments on invoices to companies that Double D performed work for. From Oct. 28, 2015 through Dec. 29, 2015, Jenkins devised a fraud scheme to obtain payments for work Double D never performed. Jenkins created 17 false and fraudulent Double D invoices and related work tickets for work he supposedly performed for Martin Marietta, court documents said.

Although none of the work was performed, Jenkins sought payment for $1,013,385 in invoices. On Sept. 29, 2021, Jenkins pleaded guilty to one count of wire fraud. In addition to the prison sentence, Jenkins was ordered to pay $560,628.07 in restitution, the amount of loss Momentum suffered.Advertisement

 

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