North Suburban Accountant Pleads Guilty to Defrauding Clients and Area Bank of More Than $1.8 Million
A north suburban certified public accountant and tax preparer pleaded guilty to engaging in a scheme to defraud U.S. Bankcorp and five of his clients of more than $1.8 million. On tuesday the defendant, Jeffrey B. Travis, pleaded guilty to bank fraud, Gary S. Shapiro, Acting United States Attorney for the Northern District of Illinois, and William C. Monroe, Acting Special Agent in Charge of the Chicago Office of the Federal Bureau of Investigation, announced on wednesday.
Travis, 51, of Vernon Hills, remains free on bond while awaiting sentencing, which U.S. District Judge Gary S. Feinerman scheduled for February 5, 2013. As a condition of bond, Travis is required to notify his clients of the charge against him. Bank fraud carries a maximum penalty of 30 years in prison and a $1 million fine, and restitution is mandatory. Travis’ plea agreement contemplates an advisory United States Sentencing Guidelines range of 63 to 78 months in prison.
Travis, who does business as Gross & Travis Ltd. and Travis and Associates Inc., with offices in Deerfield, admitted that he engaged in the fraud scheme from at least May 2002 until December 2008. Travis prepared checks payable from his clients to vendors, retirement programs, and tax authorities, but instead of delivering them to the payees intended by his clients, he deposited hundreds of such checks without authority into accounts he controlled at U.S. Bank—at times altering the checks to increase the amounts paid. Travis then withdrew the money from those accounts and diverted the funds—more than $1.8 million over the course of the scheme—to his own use.
Source: U.S. Attorney’s Office
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