Silver Spring Man Pleads Guilty to $6.2 Million Fraud Scheme

Edward J. Lawson scammed more than 60 people from 2006-2008.

Edward Lawson, 67, of Silver Spring pled guilty to wire fraud as a part of a multi-million dollar investment scheme, according to a Dec. 8 joint announcement from the United States Attorney for the District of Maryland, the FBI and the IRS.

In his plea agreement, Lawson admitted to being the president of Automated Revenue Creation LLC and Guaranteed Results Advertising LLC, and was in the business of advertising through “narrow cast television commercials” on monitors placed on gas station pumps and in convenience stores.

Between May 2006 and September 2008, Lawson used hotels in the Washington, DC metro area and an office in Rockville to make presentations to a number of potential investors, ultimately receiving $6.2 million from over 60 attendees.

Lawson misrepresented his experience, the businesses revenue projections and his own financial contributions to the company, according to the release.

As a part of the plea agreement, Lawson agreed to restitution and forfeiture for the full amount of the investors’ losses. Lawson faces a maximum possible sentence of 20 years in prison with five years of supervised release. He also is subject to a fine of either $1 million or two times the gain or loss associated with his offense (whichever is greater). Lawson is scheduled to be sentenced on April 6, 2012.

Lawson’s case was brought as part of President Barack Obama’s Financial Fraud Enforcement Task Force.

Jerry December 09, 2011 at 02:09 PM
This article strikes me as confusing to the extent that any wrongdoing by Mr. Lawson is not clear. The article says he "misrepresented his experience." That's just fancy words to say he exaggerated his qualifications background, which is more typical than not, even when people apply for a job. The article further says he misrepresented "business revenue projections." Hey, they were estimates, just like those made by any business analyst. They can be way off, and they often are. Finally, the article says he misrepresented "his own financial contributions to the company." Well, there at least is something one can build a case upon. Other than that, it sounds like a typical start up, a novel idea that needs funding to bring to market. Did he misappropriate those funds with no intention of implementing the idea? That, of course, would be fraud, but the article does not address that question. More disturbing is the assertion that Obama is cracking down on such ventures. Does that mean honest endeavors involving novel ideas are being discouraged?


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »