A Fresno man who identified himself as an “independent business consultant” was sentenced Monday to 66 months in federal prison for wire fraud, bank fraud and tax evasion.
Kenneth Shane Patterson, 44, of Fresno, also agreed to pay $1.9 million in restitution, U.S. Attorney Phillip A. Talbert said in a news release.
According to court documents, Patterson convinced a small business owner to give him more than $1 million so Patterson could acquire a skilled nursing facility in Pasadena.
Patterson promised to then sell the facility to the business owner for less than market value. Patterson told the business owner he needed the money to clear liens and pay other expenses in order to close the deal. But Patterson never intended to buy the facility and instead spent the money on unrelated business expenses and gambling.
Ran a $150,000 fraud on BofA
Patterson also defrauded Bank of America of $150,000 in a check scheme.
Additionally, Patterson evaded paying federal income tax as early as 2003. His methods of deception: not having a personal bank account, incurring expenses in accounts not in his name, and dealing in large volumes silver.
Presents himself as an expert in “accomplished business”
On his LinkedIn page, Patterson boasted, “An accomplished business development agent with over 20 years of experience in the SBA industry. I personally have over $2 billion in SBA 7a, and SBA 504 Loans and SBA 504 Green Loans and USDA B&I Loans under my belt. I am a family man, business owner and entrepreneur. Through volatile times in our economy, good and bad, I have demonstrated the ability to help business owners across the country achieve their dreams.
Patterson pleaded guilty on October 19, 2021. He was arrested on November 1, 2019.
This case was investigated by the Federal Deposit Insurance Corporation, the FBI and the Internal Revenue Service-Criminal Investigation. Assistant US Attorney Alexander Dempsey prosecuted the case.