INDIANAPOLIS - Wire fraud and money laundering convictions have sent a business scam artist in Indianapolis to prison for four years. United States Attorney for the Southern District of Indiana Josh Minkler says James Victery conned nearly $600,000 out of businesses and the government while falsely claiming to serve as an escrow agent and bond provider through a company called Tripartite Escrow Agreement Management or TEAM.

Victery's victims believed he was holding their money in escrow for deals with contractors on work that was never performed. He used the money received through fraudulent invoices on personal business interests and debt. The investigation was led by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation unit.

Victery's sentence on three counts also includes three years supervised release following his time in prison and restitution of more than $400,000.

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