Deerfield based certified public accountant and tax preparer Jeffrey B. Travis, 50, was indicted by a federal grand jury in Chicago Tuesday for allegedly defrauding five of his clients and US Bancorp out of $2 million, according to a news release from United States Attorney Patrick J. Fitzgerald.
Travis, who lives in Vernon Hills, was charged with five counts of bank fraud and three counts of mail fraud, according to the release.
Though the grand jury indicted Travis Tuesday, the charges were announced today by Fitzgerald and Robert D. Grant, special agent in charge of the Chicago office of the FBI.
Doing business as Gross & Travis, Ltd. in Deerfield, Travis is accused of allegedly depositing 668 checks without authority from clients intended for others into accounts he controlled at US Bancorp from 2002 through 2009, according to the release.
The indictment seeks forfeiture of $2,034,848, which it says represents proceeds of the alleged fraud schemes, according to the release.
Each count of bank fraud carries a maximum penalty of 30 years in prison and a $1 million fine. Each mail fraud count carries a maximum penalty of 20 years in prison and a $250,000 fine. Restitution is mandatory, the release says.
The Court may also impose a fine totaling twice the loss to any victim or twice the gain to the defendant, whichever is greater. If convicted, the court must impose a reasonable sentence under federal statutes and the advisory United States sentencing guidelines, according to the release.
