Lawyers were among victims of 'career fabulist' sentenced in 2nd fraud case, news report says
Despite a 2006 bank fraud conviction, a man described by federal prosecutors as a “career fabulist” involved in a series of Ponzi-like schemes seems to have had little difficulty persuading new victims to fund his lavish lifestyle.
Although sentenced Tuesday to 55 months in his second felony fraud case, over claimed schemes that did not target lawyers, Steven Wessel also extracted $20,000 from one lawyer and a free defense in a mortgage foreclosure case from another, the Wall Street Journal (sub. req.) reports. An earlier Wall Street Journal (sub. req.) article and the complaint (PDF) in the Manhattan case provide more details about the defendant, who was also ordered as part of his sentence to repay nearly $500,000.
When Wessel’s wife tried to bail him out, after he was initially charged in the latest case, she discovered the New York City apartment she had purchased was in foreclosure, the newspaper says. Her husband reportedly told her the mortgage had been paid in full.
The case against Wessel—who the Wall Street Journal said has been going by Wes Wessels in recent years—was pursued in Chicago and resulted in a 30-month prison sentence.
According to court testimony, Wessel then claimed to be screenwriter Wes Allen and lived in an exclusive New York City building on Central Park West while out on bail after being charged in Manhattan.
Assistant federal public defender Robert Baum represented Wessel, who is now in his late 50s. The attorney described Wessel to the newspaper as mentally ill and perhaps delusional.
After serving his 55-month sentence, “hopefully, he’ll be able to put his past criminal conduct behind, look forward to the future to pay back the victims and address his medical issues,” Baum said.
Related coverage:
Wall Street Journal (sub. req.): “New York Man Pleads Guilty in Ponzi-Like Fraud Scheme”
New York Post: “UWS con man keeps boasting right up to prison sentence”
