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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Former Loudoun Tribune publisher sentenced for fraud, weapons possession
Posted by:
NoVA News Live
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Date: January 05, 2020 10:26PM
A previously convicted felon was sentenced Friday to 46 months in prison and ordered to forfeit $512,500 for defrauding investors of a local newspaper and unlawful possession of firearms by a previously convicted felon.
According to court documents, Brian Thomas Reynolds, 53, of Leesburg, defrauded both investors and lenders to a company that he controlled that operated the Loudoun Tribune in Loudoun County. The newspaper is now defunct. Reynolds made several materially false and fraudulent representations to actual and potential investors and lenders regarding the existence and value of advertising contracts held by the company, and created fake advertising contracts when no such agreements existed, court records show. Reynolds also made materially false and fraudulent representations regarding the company’s historical advertising revenues and the amount of money that Reynolds and others had invested in the company, the U.S. District Attorney's Office said. He also falsely claimed that another individual had agreed to “match” the investments of certain investors, falsely claimed to at least one investor that the company lacked any debt, and materially overstated the amount of money held by the company in its bank accounts.
Reynolds also made materially false representations regarding the number of issues previously distributed by the newspaper, and falsely claimed that a prominent businessperson served on the company’s advisory board, when in fact that individual held no position on the board and played no role in the operation of the business, court records show. Reynolds, who has four prior felony convictions and is prohibited from possessing firearms, also pleaded guilty to unlawfully possessing seven firearms and associated ammunition.
Attachments:
According to court documents, Brian Thomas Reynolds, 53, of Leesburg, defrauded both investors and lenders to a company that he controlled that operated the Loudoun Tribune in Loudoun County. The newspaper is now defunct. Reynolds made several materially false and fraudulent representations to actual and potential investors and lenders regarding the existence and value of advertising contracts held by the company, and created fake advertising contracts when no such agreements existed, court records show. Reynolds also made materially false and fraudulent representations regarding the company’s historical advertising revenues and the amount of money that Reynolds and others had invested in the company, the U.S. District Attorney's Office said. He also falsely claimed that another individual had agreed to “match” the investments of certain investors, falsely claimed to at least one investor that the company lacked any debt, and materially overstated the amount of money held by the company in its bank accounts.
Reynolds also made materially false representations regarding the number of issues previously distributed by the newspaper, and falsely claimed that a prominent businessperson served on the company’s advisory board, when in fact that individual held no position on the board and played no role in the operation of the business, court records show. Reynolds, who has four prior felony convictions and is prohibited from possessing firearms, also pleaded guilty to unlawfully possessing seven firearms and associated ammunition.
Attachments:
Re: Former Loudoun Tribune publisher sentenced for fraud, weapons possession
Posted by:
Omar Jones
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Date: January 27, 2020 02:37PM
The guy is a POS. With any luck he will drop the soap in prison and take 10 for the team. Really his is trash and has screwed over anyone that trusted him. This could not have happened to a more deserving person.
Re: Former Loudoun Tribune publisher sentenced for fraud, weapons possession
Posted by:
Twist and Shout
()
Date: January 28, 2020 01:45PM
That POS was Loudoun Sheriff Mike Chapman's go-to guy. He did a lot of shady stuff for that coward Chapman and in return, Sheriff Chapman introduced him to many of the investors that got scammed. I just wish the FBI would hurry up and conclude their investigation.