Texas Man Sentenced for Bank Fraud and ID Theft

Allison Tussey —  June 15, 2011 — Leave a comment

Clifford Wayne Robertson, 43, Murphy, Texas man has been sentenced on charges of bank fraud and identity theft in the Eastern District of Texas. Robertson appeared before U.S. District Judge Richard Schell and was sentenced to 97 months for bank fraud to be followed by 24 months for aggravated identity theft and ordered to pay $4,627,520 in restitution. Robertson pleaded guilty to the charges on January 13, 2010 and has been incarcerated since that time.

According to documents presented in court, Robertson claimed to be a real estate investment advisor who hosted A.M. radio real estate investment talk shows and in-person seminars. Robertson admitted that beginning in December 2007, he used the identity of another person to submit a fraudulent personal financial statement to a lending institution in order to obtain money by false pretenses. Robertson was indicted on September 10, 2009 and was arrested September 18, 2009 in Dallas, Texas. Robertson admitted that he caused losses to investors between $2,500,000 and $7,000,000.

U.S. Attorney John M. Bales announced the sentence.

This case was being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Terri Hagan.

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