Shepherdsville man sentenced in theft of nearly $24M in fraud cases

LOUISVILLE, Ky. – A Shepherdsville man is facing nine years in prison for wire fraud and spending fraud proceeds.

According to the United States Attorney’s Office for the Western District of Kentucky, 59-year-old Stacy Allen Taylor of Shepherdsville conspired with others in an international wire fraud scheme to defraud more than 40 victims out of over $23.6 million.

Officials say victims believed they were investing money into a “private trading platform that would provide significant returns on their investments.” Most victims reportedly lost their entire investment to the scheme.

According to officials, Taylor was previously convicted in federal fraud and drug crimes related to his role in an illegal online pharmacy.

In this case, officials say Taylor pleaded guilty to seven counts in his indictment including charges of wire fraud, wire fraud conspiracy and carrying out transactions over $10,000 with criminal proceeds.

Taylor has been ordered to pay restitution to victims of his fraud scheme, officials say.

“Taylor is a repeat offender engaged in complex fraud, causing significant harm to dozens of victims,” said United States Attorney Kyle Bumgarner. “A dedicated team of agents from FBI and IRS-CI worked together tirelessly over the course of years to bring justice to the fraud victims in this case. Taylor’s significant prison sentence will help protect others who might have fallen prey to this fraud scheme and, hopefully, sends a strong deterrent message to other fraudsters to stop or they will certainly find themselves in a cell next to Taylor.”

There is no parole in the federal system.