Louisville man sentenced for embezzlement

A Louisville man was sentenced to prison and fined for committing embezzlement and fraud while posing as a real estate investor, U.S. Attorney John E. Kuhn announced in a news release Monday.

Eric Claxton was sentenced to 21 months and ordered to pay $520,174 in restitution by a United States District Court judge, the release said. He pleaded guilty in October to three charges of wire fraud for crimes committed between March 2012 and November 2012.

Claxton admitted to defrauding the owners of three Louisville apartment complexes: Rangeland Manor, San Souchi and Capri Arms. Claxton falsely told the owners he was going to buy the complexes and entered into a purchase agreement which allowed him to manage and operate the complexes until financing was complete. In reality, he did not have the means to purchase the complexes.

To back up his story and further deceive the owners, Claxton submitted false documents including a fake letter from an accounting firm containing fake tax returns and balance sheets. While managing the complexes, he completely emptied the complexes' bank accounts, the release said.

Read more: http://www.courier-journal.com/story/news/crime/2017/02/06/louisville-man-sentenced-embezzlement/97566604/