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12/17/2024
Springfield Business Owner Sentenced for $14 Million Fraud Scheme
United States Attorney's Office Western District of Missouri
SPRINGFIELD, Mo. – A Springfield, Mo., business owner was sentenced in federal court today for his role in a nearly $14 million wire fraud conspiracy that utilized his businesses, as well as fake businesses, to fraudulently receive loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
John Michael Felts, 49, was sentenced by U.S. District Judge Stephen R. Bough to two years in federal prison without parole. The court also ordered Felts to pay $8,173,736 in restitution. Felts also must forfeit to the government personal property and real estate purchased with the proceeds of the wire fraud conspiracy as asserted in two civil forfeiture complaints. That property includes four parcels of real estate in Springfield, six vehicles, a yacht, two Rolex watches, five additional pieces of valuable jewelry, a 1952 Topps Jackie Robinson baseball card, a 1980-1981 Topps Larry Bird, Julius Erving, and Magic Johnson card (signed by all three players), and a 1909-1911 Ty Cobb baseball card.
On July 31, 2023, Felts pleaded guilty to one count of conspiracy to commit wire fraud and one count of wire fraud.
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