Englishman Enters Plea In Boyd Bank Case
MINNEAPOLIS (AP) _ A British citizen who offered to loan $1.25 billion to help out farmers pleaded innocent Tuesday to mail and wire fraud charges and to interstate transportation of stolen checks.
Jonathon May entered the plea during a brief appearance before U.S. Magistrate Floyd Boline, who set trial for Sept. 29.
May, who had no comment in court on the charges, told Boline his residence was the United Kingdom, or Monte Carlo ″when I’m not on business.″
His attorney, Scott Tilsen, said he will seek an expedited trial date.
If convicted, May could be sentenced to up to 55 years in prison and fined up to $2 million, said John Lee, assistant U.S. attorney.
Neither Tilsen nor Lee would comment on details of the case after the hearing.
An eight-count indictment returned earlier this month alleges that May had 1,000 blank cashier’s checks made up in the name of the defunct State Bank of Boyd in Minnesota, and that he mailed some checks to people in five states and British Columbia. The checks were made out for $681,712.
May had earlier told Boyd residents that he represented 700 international trusts that had $1.25 billion to lend to farmers at near-zero interest rates. Wendy Nora, an attorney, described the equity source as a secret trust established in 1647 by King Charles I of England.
The indictment alleges May represented to officials that he controlled English trusts that had assets of more than $152 billion. May told the Lac Qui Parle Bancorporation, holding the assets of the defunct Boyd bank, that he would transfr $1.6 billion to buy Lac Qui Parle and recapitalize the Boyd bank, the indictment said.
Lee said May is wanted in Great Britain on criminal charges of bankruptcy fraud and issuing fraudulent checks.
May entered the United States on May 1 under a visa allowing him to visit the country, said Gerald Coyle, district director for the Immigration and Naturalization Service in St. Paul. May was ordered to appear at the INS office in Dallas to provide additional information on his admissibility, but failed to show up, Coyle said.