A 26-count indictment alleging wire fraud, bank fraud, money laundering, aggravated identity theft and bankruptcy fraud, said United States Attorney Mike Stuart. All indictments are serious and this is a serious matter. Ms. Cochran pretended to be a government contractor, intentionally misled investors to raise money for her fraudulent schemes, intentionally stole personal identification information from multiple individuals, falsely marketed herself and her companies as experienced, leading suppliers of government services while never being awarded a single federal contract and having two potential state contracts cancelled, and then engaged in bankruptcy fraud. I want to thank the work of my team and the West Virginia State Police, Secret Service, FDIC and ATF for their tremendous work in this matter.
The results of this investigation demonstrate the Secret Services commitment to strong partnerships between local, state, and federal law enforcement agencies, said Thomas Fleming, Resident Agent in Charge of the U.S. Secret Service Charleston Resident Office. We are committed to protecting our nations financial institutions and the citizens of West Virginia. We would like to thank the West Virginia State Police, the ATF, and the FDIC OIG for their cooperation and partnership in this case.
According to the indictment, Cochran has pretended to be an experienced government contractor since 2017. She advertised TMS and TSG as experienced government contracting businesses. TSGs website even boasted that it was a leading supplier to the Department of Defense. Investigators learned however, that TSG was never awarded a single federal or state government contract. TMS was awarded two state government contracts, but the State of West Virginia ultimately cancelled these awards because of TMS repeated delays in performance.
It is further alleged in the indictment that Cochran received investments from at least 11 individuals in her government contracting businesses, TSG and TMS. Cochran received these investments as a result of her false misrepresentations regarding TSGs and TMS experience and purported success as government contractors. Cochran also received funds from at least one financial institution as a result of her false and misleading statements regarding TSG and TMS. During the course of her fraudulent schemes, Cochran stole identification information from multiple individuals, who were either employed by the federal government or the banking industry. She would then send investors emails that were purportedly from these individuals in order to further her wire fraud and bank fraud schemes.
This past July, Cochran filed for bankruptcy. The indictment further alleges that she made several material misrepresentations within her bankruptcy filing and lied while testifying under oath at her meeting of creditors.
The indictment alleges that Cochran fraudulently obtained over $2.5 million during her scheme and is believed to have spent over $1 million of investor money. Cochran used investor money to fund her lifestyle for over a year and a half, as she was unemployed during that time outside of her work with TSG and TMS. She also used the investor money for extravagant purchases, including jewelry, a 1965 Shelby Cobra, and multiple properties.
If convicted, the defendant faces a maximum penalty of 30 years in prison.
The West Virginia State Police, the United States Secret Service, the Federal Deposit Insurance Corporation (FDIC) and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) conducted the investigation. Assistant United States Attorney Kathleen Robeson is handling the prosecution.
Please note: An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed to be innocent until and unless proven guilty in court.
-- Southern District of West Virginia
Source: U.S. Secret Service