Saturday, March 06, 2010
Former Ky. Businessman To Plead Guilty
KENTUCKY....
According to a motion in federal court in Dallas, 62 year old Bill D. Deaton, founder of Image Entry Inc. is set to plead guilty to a charge of conspiracy to commit wire fraud. Image Entry provided data-processing services for government agencies and businesses. Deaton, who has property in London, is accused of taking part in a scheme to inflate Image Entry's earnings. Under the deal, Deaton was eligible to get an additional $11 million if Image Entry achieved certain earnings levels, and up to $25 million more if company exceeded earnings targets by large enough margins. He repaid the entire $25 million at issue and paid $5 million to cover the costs of its investigation, and he paid the U.S. Securities and Exchange Commission $240,000. His attorney says, "Mr. Deaton intends to approach these charges in the same way: by forthrightly accepting responsibility for what he did."
According to a motion in federal court in Dallas, 62 year old Bill D. Deaton, founder of Image Entry Inc. is set to plead guilty to a charge of conspiracy to commit wire fraud. Image Entry provided data-processing services for government agencies and businesses. Deaton, who has property in London, is accused of taking part in a scheme to inflate Image Entry's earnings. Under the deal, Deaton was eligible to get an additional $11 million if Image Entry achieved certain earnings levels, and up to $25 million more if company exceeded earnings targets by large enough margins. He repaid the entire $25 million at issue and paid $5 million to cover the costs of its investigation, and he paid the U.S. Securities and Exchange Commission $240,000. His attorney says, "Mr. Deaton intends to approach these charges in the same way: by forthrightly accepting responsibility for what he did."
# posted by Homer Owens @ 11:02 AM 
