Donald Watkins, son indicted in fraud caseRickey Stokes
Posted by: RStokes
Date: Dec 03 2018 11:27 AM
Thursday, two men, father and son, were charged with concocting a scheme that allegedly defrauded individual investors and Alamerica Bank out of millions of dollars. Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Jay E. Town of the Northern District of Alabama, FBI Special Agent in Charge Johnnie Sharp of the Birmingham, Division, and IRS-Criminal Investigation Special Agent in Charge Thomas J. Holloman announced the ten count indictment.
Criminal defense attorney Donald V. Watkins Sr., age 70, of Atlanta, Georgia, and his son Donald V. Watkins Jr., age 46, of Birmingham, Alabama, were charged in a 10-count indictment filed in the Northern District of Alabama with seven counts of wire fraud, two counts of bank fraud and one count of conspiracy to commit wire fraud and bank fraud.
According to the indictment, between 2007 and 2014, the defendants induced investors to pay millions of dollars into a bank account controlled by Donald Watkins Sr. by telling the investors that their money would be used for specific purposes related to the international growth of two companies associated with the defendants. Federal authorities allege that instead of using the money for those purposes, the defendants redirected the funds for other uses, including the payment of personal tax obligations, personal loan payments, alimony, and clothing, the indictment alleges.