Chesterfield man sentenced 12 years in prison on federal fraud c - NBC12 - WWBT - Richmond, VA News On Your Side

Chesterfield man sentenced 12 years in prison on federal fraud charges

Timothy S. Wenk (Source: Chesterfield police) Timothy S. Wenk (Source: Chesterfield police)
CHESTERFIELD, VA (WWBT) -

Chesterfield businessman Timothy Wenk was sentenced to 12 years in prison on two counts of wire fraud in federal court on Wednesday. 

Wenk will also have to pay $606,044.99 in restitution. 

Wenk is accused of fleecing dozens of people out of more than $750,000 under a fraudulent mortgage scheme. The maximum penalty Wenk faced was 20 years in prison and a $250,000 fine, plus full restitution.

The former owner of Premier Consulting Services also operated another business, called Capital Business Services.

The terms of the plea deal are spelled out in a 13-page plea agreement. There's also a special assessment of $100 per count of conviction and up to three years of supervised release.

Wenk is admitting to taking money from a Henrico woman and a Forest Hill woman. Court papers say to carry out the fraudulent scheme, Wenk falsely claimed that he had access to lenders who could provide mortgages to clients with poor credit ratings - he never delivered on his promises.

Until Thursday, Wenk maintained he never ripped off anyone. He told NBC12 investigators several months ago:

In no way, shape or form did I intend to mislead harm or cause any issue with anyone. I never represented myself as a mortgage broker. I never intended that anyone would purchase something and a deal not go through. I've done my best to serve my clients. The clients I wasn't able to serve I've refunded thousands of dollars for deals that fell through. I'm not some con artist that sits and tries to steal people's money like it's being made out to be. I'm a very hard working person.

Wenk always said to NBC12 investigator Diane Walker that he would be vindicated in court when that day comes.

Well, it's here, and the plea agreement and "statement of facts" filed in this case establish his guilt.

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