New York, NY – Canton, Michigan resident Franklin Ray, a recidivist fraudster, pled guilty today to multiple counts of wire fraud, including one count of wire fraud while released under conditions of bail, and one count of aggravated identity theft. These charges were connected to various fraud schemes involving his trucking business, CSA Business Solutions LLC, and another Michigan-based trucking company. Ray had previously been convicted of wire fraud and bank fraud in the Eastern District of Michigan and was released from prison in 2010. United States District Judge Analisa Torres oversaw the proceedings in the Southern District of New York.
U.S. Attorney Damian Williams announced that between June 2020 and April 2022, Ray engaged in four separate fraudulent schemes by lying about the business operations of his supposed trucking companies. This included two separate PPP frauds and a $40 million Ponzi scheme.
Ray continued his crime spree even after his arrest by federal authorities in March 2022, defrauding investors of nearly $2 million while on bail. The FBI and the U.S. Attorney’s Office worked together to hold Ray accountable for his serial fraudulent conduct.