Advertisement

Owner of San Jan sentenced to 15 years for fraud

(KOSA)
Published: Jul. 8, 2021 at 2:34 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

ODESSA, Texas (KOSA) - The owner of San Jan has been sentenced after pleading guilty to defrauding investors out of more than $18 million.

According to a release, 45-year-old James Clinton Fletcher was sentenced to 15 years in prison by a federal judge on Thursday.

U.S. District Judge David Counts also ordered that Fletcher pay $18,279,111 in restitution to his victims and $1,177,231 in restitution to the IRS.

Fletcher pleaded guilty to one count of conspiracy to commit wire fraud and one count of willful failure to pay employee tax withholdings to the IRS back in December.

An investigation by the IRS and FBI revealed that Fletcher defrauded more than two dozen family members, friends and business associates from March 215 to January 2018.

He then used the $18 million to buy a home in Odessa valued at over $1 million, a vacation home at a Texas resort, and several expensive vehicles, including a Range Rover, Mercedes-Benz and a GMC Yukon Denali.

Authorities say Fletcher also gambled extensively, taking frequent trips to Las Vegas with a private plane. He also used the money to fund ‘extravagant’ hunting trips.

“Fletcher leveraged his relationships with family, friends and acquaintances to steal their hard-earned money and feed his endless greed,” said U.S. Attorney Ashley C. Hoff. “The magnitude of the millions in losses was only rivaled by his increased willingness to betray those who placed their trust in him. Working with our law enforcement partners, the U.S. Attorney’s Office will continue to seek justice for victims of financial fraud.”

San Jan suddenly closed its doors back in 2017, leaving hundreds of employees without a job.

Copyright 2021 KOSA. All rights reserved.