Thursday, September 8, 2005

What a Tangled Web We Weave

The U.S. Attorney's Office for the Southern District of Texas (Houston) announced that Larry Michael ("Mike") Nixon entered a guilty plea to two counts of bank fraud related loans from Minnwest Bank in Montevideo, MN, and Old National Bank in Indianapolis, IN.  Nixon defrauded the banks by getting loans supposedly to purchase cranes for his company, Delta Crane Co., by sending false documents showing purchases that were never made.  Once Nixon got in too far over his head, he took the mature approach to his problems -- he decided to fake his death.  In 2003, Nixon's speedboat, named "Living Extra Fast'', hit a barge in Galveston Bay, and while the Coast Guard spent days searching for Nixon, a body was never recovered.  According to a press release issued by the U.S. Attorney's Office (here):

Nixon also admitted that after finding himself and his company, Delta Crane, in debt for approximately $4 to $5 million, and unable to refinance, he decided a boating accident gave him an opportunity to disappear. After having obtained a Tennessee driver's license using a birth certificate in the name of Patrick Hudgens, Nixon disappeared after a boating accident on Galveston Bay on August 27, 2003. Nixon obtained the birth certificate on the Internet. At the time of his arrest on state charges by authorities in West Virginia, Nixon was using and living under the name Patrick Hudgens.

Nixon has been in custody since his arrest in 2004 on the West Virginia state charge, and life has probably been "extra slow" since then. (ph)

Fraud, Prosecutions | Permalink

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