Ex-Fresno resident pleads guilty to $1.25 million scam
A former Fresno resident pleaded guilty Tuesday to mail fraud and identity theft in connection to a scam where he collected $1.25 million from government contractors and the federal government, the U.S. Attorney’s Office announced.
Abel Carreon, 57, ran a scheme to defraud the private companies that were seeking contract work with the federal government from April 2005 to May 2011.
His company, Tripartite Escrow Corporation, offered bonding services to prospective government contractors using fake collateral to secure bonds.
Bond packages that Carreon submitted contained false statements and fraudulent documents, according to his plea agreement. He pledged stock that didn’t exist as collateral.
The contractors and the government paid Carreon for false and fraudulent payment and performance bonds.
Carreon is scheduled to be sentenced on Aug. 17.
Troy Pope: (559) 441-6015, @troycpope
This story was originally published May 26, 2015 at 8:38 PM with the headline "Ex-Fresno resident pleads guilty to $1.25 million scam."