Woodstock Woman, Tenn. Man Sentenced in Conspiracy Case

Benjamin Wade Elliott, 26, of Winchester, Tennessee, and Connie Lee Buce, 42, of Woodstock, were sentenced this week by United States District Judge Thomas Thrash, Jr. on charges relating to a conspiracy to defraud more than 500 automobile dealerships and numerous banks throughout the United States of millions of dollars.

Elliott was sentenced to serve 9 years in federal prison to be followed by 5 years of supervised release, and ordered to pay $4.28 million in restitution, and Buce was sentenced to serve 4 years, 3 months in federal prison to be followed by 3 years of supervised release and also ordered to pay the $4.28 million in restitution. Elliott was convicted of these charges on Oct. 30, 2008, and Buce was convicted of these charges on Nov. 17, 2008, after each entered a guilty plea.

According to the information presented in court: From July 2006 through January 2007, Elliott owned and operated “300 UP Promotions Inc.” (300 UP), a Georgia corporation that sold direct-mail advertising services to automobile dealerships. Buce was the company’s CFO. The dealerships paid 300 UP in full, by check, before any advertising services were provided by 300 UP. Although the dealerships did not authorize 300 UP to debit their bank accounts electronically, Elliott and Buce stole millions of dollars from the dealerships’ bank accounts through the use of Automated Clearing House debits. Most of the dealerships promptly reviewed their bank statements and notified their banks of the unauthorized ACH debits.

As a result, those banks credited the dealerships’ accounts for the unauthorized debits, but the banks were not able to recover the funds from Elliott and Buce. The loss to the victim lending institutions is estimated at $9 million.

Elliott and Buce attempted to steal an additional $21 million but were thwarted when some of the victims complained to ACH about the unauthorized debts.