Firearms Industry Matches ATF Reward in Woodstock Firearms Theft

The National Shooting Sports Foundation (NSSF) -- the trade association for the firearms industry -- has announced a $5,000 reward for information leading to the arrest and/or conviction of those responsible for the recent theft of 24 firearms from Pannell's Firearms, located at 10102 Main Street in Woodstock, Ga. The case is being jointly investigated by ATF special agents and Cherokee Sheriff's Office (CSO) investigators. The NSSF reward offer matches a $5,000 reward offered by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

Steve Sanetti, president of the NSSF, said, "Our matching reward offer will hopefully help assist ATF and local law enforcement in solving this crime against a federally licensed firearms dealer and lead to the swift recovery of stolen firearms before they can enter the illegal underground black market where they can be misused to commit violent crimes."

The matching reward payment by NSSF will be granted only following payment of the initial ATF reward, which is up to $5,000 for information leading to the arrest and conviction of those responsible for the crime.

Investigators are seeking the public's help with identifying the suspects and providing information on the location of any of the stolen firearms. Anyone with information is encouraged to call ATF's toll-free, 24-hour hotline at 1-888-ATF-TIPS (1-888-283-8477) or the Cherokee Sheriff's Office Criminal Investigations Division at 770-928-0239. Callers can remain anonymous.

For any questions about the theft of these firearms, please contact ATF at the numbers listed above.

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Pair Sentenced to Prison for Conspiring to Defraud Automobile Sealerships and Banks

BENJAMIN WADE ELLIOTT, 26, of Winchester, Tennessee, and CONNIE LEE BUCE, 42, of Woodstock, Georgia, were sentenced February 25 by United States District Judge Thomas W. Thrash, Jr. on charges relating to a conspiracy to defraud more than 500 automobile dealerships and numerous banks throughout the United States of millions of dollars.

United States Attorney David E. Nahmias said of the case, “These defendants, who were in the business of providing direct-mail advertising services to automobile dealerships, stole millions of dollars from their customers by electronically debiting their bank accounts without authorization. This type of criminal activity represents a threat to our banking system, and the people who think they can get away with this type of electronic fraud face the very real possibility of ending up in a federal prison, where there is no parole."

ELLIOTT was sentenced to serve 9 years in federal prison to be followed by 5 years of supervised release, and ordered to pay $4.28 million in restitution, and BUCE was sentenced to serve 4 years, 3 months in federal prison to be followed by 3 years of supervised release and also ordered to pay the $4.28 million in restitution. ELLIOTT was convicted of these charges on October 30, 2008, and BUCE was convicted of these charges on November 17, 2008, after each entered a guilty plea.

According to United States Attorney Nahmias and the information presented in court: From July 2006 through January 2007, ELLIOTT owned and operated “300 UP Promotions, Inc.” (300 UP), a Georgia corporation that sold direct-mail advertising services to automobile dealerships. BUCE was the company’s Chief Financial Officer. The dealerships paid 300 UP in full, by check, before any advertising services were provided by 300 UP. Although the dealerships did not authorize 300 UP to debit their bank accounts electronically, ELLIOTT and BUCE stole millions of dollars from the dealerships’ bank accounts through the use of Automated Clearing House (“ACH”) debits. Most of the dealerships promptly reviewed their bank statements and notified their banks of the unauthorized ACH debits. As a result, those banks credited the dealerships’ accounts for the unauthorized debits, but the banks were not able to recover the funds from ELLIOTT and BUCE. The loss to the victim lending institutions is estimated at $9 million. ELLIOTT and BUCE attempted to steal an additional $21 million but were thwarted when some of the victims complained to ACH about the unauthorized debts.

This case was investigated by Special Agents of the Federal Bureau of Investigation.

Assistant United States Attorney Russell Phillips prosecuted the case.

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Former Georgia Real Estate Agent Sentenced to 14 Years in Federal Prison for Mortgage Fraud

Joseph Sterling Jetton, 61, of Woodstock, Ga., was sentenced October 10, 2008, to 14 years in federal prison to be followed by five years of supervised release and ordered to pay $11,194,300 in restitution on charges of conspiracy, bank fraud, wire fraud and money laundering related to a multi-million dollar mortgage fraud scheme. Jetton was convicted by a jury on Nov. 26, 2007, after a three week trial, and was sentenced today by U.S. District Judge Beverly B. Martin.

According to U.S. Attorney David E. Nahmias and the information presented in court, Jetton orchestrated a mortgage fraud scheme that involved millions of dollars in fraudulently inflated mortgage loans being provided to unqualified straw borrowers from late 2004 through early 2006. The straw borrowers were paid through shell companies as much as $600,000 per property from the fraudulently obtained loan proceeds. Jetton wrote sales contracts that failed to disclose that the sales prices of the residences had been inflated and that hundreds of thousands of dollars out of the loan proceeds were going to the buyers and others. Jetton personally derived more than a $1 million in commissions from the mortgage fraud scheme.

"This defendant was a licensed real estate agent. Using his specialized knowledge of real estate and residential mortgage financing, he orchestrated a mortgage fraud scheme that has caused millions of dollars in losses to lenders and untold damage to neighborhoods," said U.S. Attorney Nahmias. "Nearly a dozen people have been sentenced to federal prison for their involvement in this defendant's scheme. The long prison sentence handed down today accounts for his leadership role in the scheme and the misuse of his position as a real estate agent to commit the fraud. We will continue to work with federal, state and local law enforcement agencies to vigorously investigate and prosecute mortgage fraud schemes, especially those perpetrated by professionals in the real estate industry."

Eleven other defendants have already been sentenced to prison terms in related cases, with sentences ranging from eight months to more than ten years in federal prison. Raymond Joseph Costanzo Jr., 63, of Clayton, Ga. -- a closing attorney in the scheme -- was sentenced to three years and five months in federal prison. A loan broker in the scheme, Olympia D. Ammons, 31, of St. Louis, Mo., was sentenced to five years and three months in prison to be followed by four years of supervised release, and was ordered to pay $7,549,044 in restitution.

Assistant U.S. Attorneys Gale McKenzie, William L. McKinnon Jr. and Douglas Gilfillan prosecuted the case. This case was investigated by Special Agents of the FBI.

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