The Richmond Register

Local News

April 12, 2013

Man faces federal theft charges

Charged with stealing $780K from Keeneland

LEXINGTON — A Richmond man has been indicted in federal court on charges he stole $780,000 from Keeneland by overstating the amount of cash he needed to stock the race track’s ATMs.

Larry Wilson faces 12 criminal charges related to wire fraud, filing false tax returns and money laundering.

The indictment states Wilson was hired in 2006 to service the horse racing track’s ATMs. He created cash requests in order to withdraw money from the Keeneland cash room to stock the machines.

Keeneland would submit those requests to JP Morgan Chase Bank, and the currency was delivered to the track via armored truck.

In October 2007, the track stopped submitting separate currency requests to stock the ATMs and instead requested cash from the bank for Keeneland’s operations, some of which was put in the machines, according to the indictment.

“Wilson inflated his requests for cash from the money room, and based on those requests received funds in excess of that needed to stock the ATMs at Keeneland,” the indictment states. “He then converted the excess cash belonging to Keeneland for his personal use.”

Wilson stole $786,080 in this manner during the course of his employment, according to the indictment. He was fired from the racetrack in May 2009, according to the Lexington Herald-Leader.

In addition to the wire fraud, Wilson is accused of filing false tax returns from 2007 to 2010 that understated his yearly income.

He also is accused of taking some of the money intended for the ATMs and depositing it in his mother’s bank account. This is known as “money laundering,” which is an attempt to conceal illegally obtained cash.

Finally, the indictment states Wilson used $40,000 of the funds he obtained through the wire fraud to purchase a 2008 Mustang Shelby from a Richmond car lot.

The money laundering and wire fraud charges carry a penalty of up to 20 years in prison, and using illegally obtained funds in a transaction has a possible sentence of up to 10 years. Filing a false tax return is punishable by a maximum of three years in prison.

Wilson also could be fined more than a million dollars if he is found guilty. The prosecutor also is seeking restitution.

Wilson is scheduled to appear at 1 p.m. May 2 in U.S. District Court in Lexington. The case has been assigned to Senior Judge Joseph M. Hood.

Sarah Hogsed can be reached at shogsed@richmondregister.com or 624-6694.

1
Text Only
Local News
  • 7-26 Stockyards 2.jpg Cattle farmers enjoying ‛perfect storm’

    Demand is up, and cattle are selling for record prices.

    At the same time, corn prices are down and fuel prices have stabilized.

    That adds up to a “perfect storm” for Kentucky cattle farmers, said Gary Kelly of Paint Lick as he ate lunch Friday with his brother Jimmy at the restaurant across from the Blue Grass Stockyards.

    July 26, 2014 5 Photos

  • 7-26 Fire Practice Structure 1.jpg Fire training tower going up

    A new training tower for the Richmond Fire Department is rising on Four Mile Road.

    Construction began Thursday on the four-story, steel-framed structure.

    July 26, 2014 4 Photos

  • Pavement work to restrict I-75 in Rockcastle County

    Beginning Sunday until about the end of November, Interstate 75 in Rockcastle County will be reduced to one lane in each direction between mile points 58 and 66 for pavement work.

    July 26, 2014

  • Jailed woman charged with heroin trafficking

    A Richmond woman already jailed on another charge was served with a drug trafficking warrant Thursday.

    July 26, 2014

  • County’s jobless rate improves

    Madison County’s unemployment rate for June, 6.5 percent, was a full percentage point lower than a year earlier and 0.2 points lower than in May.

    July 24, 2014

  • 7-25 Camp Invention 1.jpg Young inventors turn trash to treasure

    The first day of Camp Invention began with a room full of objects ready to be recycled, Sarah Shaffer, director of the camp said Thursday.

    July 24, 2014 6 Photos

  • 7-25 William Gilbert.jpg Four arrested on meth charges at Berea motel

    Berea Police arrested four people Wednesday at the Knights Inn on Chestnut Street, including a man they said tried to conceal a meth lab on his person.

    July 24, 2014 5 Photos

  • Fridays, Saturdays added to depot’s detonation calendar

    The Blue Grass Army Depot is adjusting its weekly schedule for detonating obsolete and unserviceable conventional explosives because of a higher-than-normal number of delays this season.

    July 24, 2014

  • County, cities asked to ban indoor smoking

    The Madison County Health Board voted 9-1 Wednesday to ask the county’s three local governing bodies to ban smoking in indoor public places.

    July 24, 2014

  • 7-24 4-H Entries 1.jpg 4-H exhibits are family affair for the Houstons

    Five children from the same family were the first to bring their 4-H exhibits Wednesday to the Madison County Fairgrounds.

    July 24, 2014 5 Photos

AP Video
Raw: Massive Dust Storm Covers Phoenix 12-hour Cease-fire in Gaza Fighting Begins Raw: Bolivian Dancers Attempt to Break Record Raw: Israel, Palestine Supporters Rally in US Raw: Palestinians and Israeli Soldiers Clash Raw: Air Algerie Flight 5017 Wreckage Virginia Governor Tours Tornado Aftermath Judge Faces Heat Over Offer to Help Migrant Kids Kerry: No Deal Yet on 7-Day Gaza Truce Kangaroo Goes Missing in Oklahoma More M17 Bodies Return, Sanctions on Russia Grow Gaza Residents Mourn Dead Amid Airstrikes Raw: Deadly Tornado Hits Virginia Campground Ohio State Marching Band Chief Fired After Probe Raw: Big Rig Stuck in Illinois Swamp Cumberbatch Brings 'Penguins' to Comic-Con Raw: Air Algerie Crash Site in Mali Power to Be Restored After Wash. Wildfire Crashed Air Algerie Plane Found in Mali Israel Mulls Ceasefire Amid Gaza Offensive
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

What county fair attraction do you like most?

Amusement rides
Beauty pageants
Flora Hall craft exhibits
Horse shows
Livestock, poultry shows
Truck, tractor pulls
Mud, dirt races
Gospel sing
I like them all
     View Results