EUGENE, Ore. – Fred Schrameck II aka Rick Schrameck, 73, of
Bend, Oregon, pleaded guilty today to a single count of wire fraud for a scheme
involving his consumer aviation company, Aircraft Completion Services LLC
(ACS).
According to court documents, Schrameck and others solicited
customers to purchase and help build experimental aircraft, including the EPIC
LT, using three companies, Aircraft Investor Resources LLC (AIR), Epic Air LLC
(EPIC), and ACS. According to purchase agreements, customers paid more than
$1.4 million for the Bend-manufactured aircraft.
Schrameck gave customers Airframe Purchase Agreements and
Aircraft Completion Assistance Agreements that misrepresented how the
customers’ funds were being used. Without his customers’ knowledge, Schrameck
used the funds for other projects, to complete existing EPIC LT aircraft, and
to support his own lavish lifestyle.
Schrameck faces a maximum sentence of 20 years in prison, a
$250,000 fine, and three years’ supervised release. He will be sentenced on
Tuesday, August 14, 2018 before U.S. District Court Judge Ann Aiken.
This case was investigated by the FBI and IRS Criminal
Investing (IRS-CI) and is being prosecuted by Scott E. Bradford, Assistant U.S.
Attorney for the District of Oregon.
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