2nd guilty plea in 5LINX fraud case

2nd guilty plea in 5LINX fraud case

Overview

 

 

ROCHESTER, N.Y. — The second of three former Rochester businessmen charged in a wire fraud and money laundering scheme prosecutors say cheated investors out of millions of dollars has pleaded guilty.

Jeb Tyler, 45, pleaded guilty to conspiracy to commit wire fraud and filing a false tax return for the year 2014.

The charges carry up to 20 years in prison and a $250,000 fine.

Prosecutors say Tyler, along with other owners Craig Jerabeck and Jason Guck, started the Rochester-based company 5LYNX to provide utility and telecommunications services back in 2001.

Prosecutors say in June and July of 2006, the men sold company stock to three investment companies then made $2.3 million in a distribution deal, and never passed the profits on to investors.

Charges against Guck are still pending.

Jerabeck also pleaded guilty and is awaiting sentencing.

Tyler is set to be sentenced in the fall of this year.