RICHMOND, Va. — A Chesterfield man plead not guilty to federal charges in connection with a mortgage fraud scheme that allegedly swindled victims out of more than $750,000.
Timothy Scott Wenk, 50, the former owner of Premier Consulting, is charged with one count of federal wire fraud.
Wenk operated several businesses, including Premier Consulting Services, Capital Business Services and Premier Credit Consultants in Central Virginia, according to federal court records.
The services claimed to offer a variety of financial services, including mortgage finance and credit repair services.
“The criminal complaint specifically alleges that Wenk defrauded a victim identified as “V.S.” of $5,496 related to a home the victim was to rent from Wenk but which the defendant never made available for rent,” according to the federal complaint. “The affidavit further alleges that approximately 70 customers of his businesses have experienced losses of more than $750,000.”
In March 2017, Wenk was arrested by Chesterfield police who said he took more than $100,000 from five victims and believed there may more victims.
Before being arrested on federal charges, Wenk faced five counts of obtaining money under false pretenses in Chesterfield County. Those charges were nolle prossed, meaning they are dismissed, but can be brought back at a later date.
At the time of those initial charges, Wenk denied any wrongdoing saying “I am adamant there is no basis for these charges.”
Wenk’s jury trial is scheduled for September 12, 2017 at 9:30 a.m. He faces a maximum penalty of 20 years in prison if convicted.