2 businessmen indicted in property fraud scheme
Jul. 27, 2017
ATLANTA (AP) — Two businessmen have been charged in an unclaimed property fraud scheme that allegedly stole more than $100,000.
U.S. Attorney John Horn said in news release Thursday that 60-year-old Allen Pendergrass and 37-year-old Terrell McQueen were indicted in the scheme. The top executives of Asset Financial Recovery are accused stole identities and received stolen money, fraudulently claiming over $100,000 owed to local businesses and residents in forged documents mailed to the City of Atlanta.
Pendergrass and McQueen are also accused of claiming money that was then placed in accounts they controlled, and was never distributed.
Prosecutors say Pendergrass of Fayetteville, Georgia, owned and operated several other companies from 2004-2014 with the same service as Asset Financial Recovery.
Pendergrass and McQueen of Fort Worth, Texas, started Asset Financial Recovery in 2012.