PFLUGERVILLE, TX – The former CFO of a now-defunct Texas trucking company was found guilty and has been sentenced to federal prison for wire fraud and tax evasion.
The woman is ordered to pay almost $8M in restitution in connection with a fraud scheme.
Official reports identify the defendant as Nicky Osborne, 50, a former Pflugerville trucking company Chief Financial Officer. Osborne has been sentenced to 46 months in federal prison as an addition to the $8m in restitution.
Osborne is to pay $7,479,179.39 to ProBilling and Fund Service of Alabama and $596,425 in restitution to the IRS.
The defendant pleaded guilty to one count of wire fraud and one count of making a false statement on an income tax return on Feb 25, 2020. By pleading guilty, Osborne admitted that she schemed to submit false and inflated receivables to financing companies while working as CFO at Bison Global Logistics.
“The role of IRS Criminal Investigation becomes even more important in investigating wire fraud schemes due to the complex financial transactions that can take time to unravel,” said IRS CI Special Agent in Charge Goss. “Additionally, federal tax laws are also typically violated in these types of cases which can add to additional jail time. IRS CI Special Agents are skilled at investigating all types of tax and related financial crimes and this sentencing is a testament to that hard work and commitment.”
The trucking company in question, Bison Global Logistics, filed for Chapter 11 bankruptcy and closed doors in 2017.
As the reason for the Chapter 11 filing, “The company’s operations were shut down following injunctive relief obtained by ProBilling. The fraudulent scheme is believed to have been concocted by Nicolette Osborne, the company’s former Chief Financial Officer. The company filed chapter 11 in order to gain a respite from its creditors, re-start operations, liquidate excess property and maximize value for creditor” is in the official Chapter 11 documentation.
The bankruptcy of Bison Global Logistics left nearly 70 drivers without a job.