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Man admits to defrauding several people and businesses

Posted at 7:29 AM, Jul 14, 2019
and last updated 2019-07-14 08:27:10-04

(LEX 18) — A man has admitted in federal court that he defrauded victims, a bank in Boyd County and some businesses of nearly $5 million.

Anthony McQuaid pleaded guilty to bank fraud and wire fraud.

Under the terms of McQuaid's plea agreement, he will be sentenced to 46 months in prison.

In his plea, McQuaid admitted to obtaining loans from people under fraudulent circumstances and at times repaying those loans with bad checks.

In addition to a prison sentence, McQuaid will also be required to repay his victims.