Fraud

A woman who formerly served as a high ranking executive for a now-defunct Texas trucking company has been sentenced to federal prison and ordered to pay millions of dollars in restitution in connection with a fraud scheme.

Nicky Osborne, 50, has been sentenced to 46 months in federal prison and ordered to pay $7,479,179.39 in restitution to ProBilling and Fund Service of Alabama and $596,425 in restitution to the IRS, according to a March 24 news release from the U.S. Attorney’s Office Western District of Texas. Following her release from prison, Osborne has also been ordered to serve five years of supervised release.

In February 2020, Osborne pleaded guilty to one count of wire fraud and one count of making a false statement on an income tax return.

Osborne served as Chief Financial Officer for trucking company Bison Global Logistics of Pflugerville, Texas.

Bison filed for Chapter 11 bankruptcy protection in 2017 and closed the same year after “ProBilling uncovered an ongoing scheme by Debtor’s former Chief Financial Officer to submit fraudulent invoices,” according to bankruptcy filings. “The company’s operations were shut down following injunctive relief obtained by ProBilling,” the filing states.

Nearly 70 truck drivers were employed by Bison at the time that the company closed.

“Osborne admitted that while employed at Bison Global Logistics of Pflugerville between 2012 and 2017, she schemed to submit false and inflated receivables to financing companies.  Osborne also earned a substantial income at Bison and failed to report commissions from her fraud scheme as income,” authorities say.

“The role of IRS Criminal Investigation becomes even more important in investigating wire fraud schemes due to the complex financial transactions that can take time to unravel,” said  IRS CI Special Agent in Charge Goss.  “Additionally, federal tax laws are also typically violated in these types of cases which can add to additional jail time. IRS CI Special Agents are skilled at investigating all types of tax and related financial crimes and this sentencing is a testament to that hard work and commitment.”