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W.Va. inmate pleads guilty to fraud
CLARKSBURG, W.Va. (AP) — A federal prison inmate has been convicted in a fake scheme to lease coal rights through a trust.
U.S. Attorney Sharon L. Potter said Thursday that 49-year-old Randall S. Michael pleaded guilty to one count of mail fraud.
Potter says the inmate at the minimum-security prison in Morgantown devised a scheme to obtain money by falsely representing himself as a wealthy executive. He claimed he would use money and proceeds from the trust to buy about 13 acres for $3.9 million.
Potter says Michael told a potential investor a refundable bond was required. Michael had a $26,250 check addressed to a false bonding company cashed in January and the proceeds were distributed to his family.
Michael faces up to 20 years in prison and a fine of $250,000.
