PROVIDENCE, R.I. — A Connecticut man is expected to plead guilty to what federal authorities described as a $5 million fraud scheme using his Rhode Island jewelry store.
WPRI-TV reports 51-year-old Gerald Kent made a plea deal with prosecutors. Court records show in exchange for a guilty plea to charges of wire fraud and aggravated identity theft, prosecutors will recommend 60 months or fewer in prison.
Kent owns Kent Jewelry in Johnston, Rhode Island, which sells jewelry online on sale websites such as Groupon and Zulily. Prosecutors say Kent made a deal with a firm that buys unpaid invoices in return for cash. But prosecutors say he sold the company fraudulent invoices, making $3.6 million through the scheme.
Kent is expected to enter his plea in federal court next week.
Information from: WPRI-TV, http://www.wpri.com