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An Oregon payment processing broker, who spent nearly seven years operating sham companies, was sentenced to prison yesterday for stealing and attempting to steal $14 million from victims’ bank accounts.
At an earlier court appearance, Jeremy Todd Briley (47), of Happy Valley, pleaded guilty to one count of wire fraud.
According to court documents, Briley identified payment processors in the United States for his clients to use in processing charges.
Two of his largest clients were sham companies that falsely represented that they provided online marketing services to businesses.
Operated the Scheme Knowing It to be Fraudulent
The court documents reveal that Briley operated the scheme from February 2017 to December 2023.
During this time, he obtained and maintained payment-processing procedures for the sham companies, knowing they were fraudulent debit-processing procedures.
Acting as a payment processor, the sham merchants stole from victims by fraudulently debiting their bank accounts. This resulted in over $14 million in unauthorized debits and attempted debits.
Briley was sentenced to three years in prison and three years of supervised release. He was also ordered to forfeit $460,000 in fraudulent proceeds.
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