News Summary
Brandon T. Owen, a business owner from Caddo Parish, Louisiana, has been sentenced to 30 months in prison for a money laundering scheme exceeding $1.1 million. He diverted funds intended for creditor repayments during bankruptcy and misused government relief funds for personal expenses. His actions highlight the serious legal repercussions of financial misconduct.
Shreveport – Brandon T. Owen, a 52-year-old business owner from Caddo Parish, Louisiana, has been sentenced to 30 months in prison for his role in a money laundering scheme involving more than $1.1 million in fraudulent activities. The sentencing was issued following Owen’s guilty plea to money laundering in October 2024. In addition to his prison term, he has also been fined $100,000 and ordered to pay restitution totaling $1,157,154.39.
Owen operated an oilfield consulting business based in Bossier City, Louisiana, which filed for Chapter 11 bankruptcy in June 2020. As part of the bankruptcy reorganization process, a Distribution Trust was established in January 2021 to facilitate repayments to creditors. Under the terms of the Distribution Trust Agreement, Owen, as the company president, agreed to allocate 30% of any additional compensation to the Distribution Trust. However, he violated this agreement and diverted funds for personal use.
In 2021, Owen’s business sought Employee Retention Credits (ERCs), specifically designed to assist eligible companies impacted by the economic downturn due to the COVID-19 pandemic. However, Owen devised a scheme to unlawfully intercept U.S. Department of Treasury checks intended for the ERCs before they could be deposited into the company’s working accounts. He opened a bank account in the company’s name while it was still undergoing bankruptcy proceedings.
Through this deceptive scheme, Owen allegedly received a total of $3.8 million in ERC funds, which he was supposed to channel into the Distribution Trust as per the agreement. Instead of complying with his obligations, Owen failed to disburse the 30% share and instead misused the funds for personal expenditures, including the payment of gambling debts.
The criminal activities surrounding Owen’s case were thoroughly investigated by a coalition of state and federal law enforcement agencies, including the IRS Criminal Investigation, the FBI, and the Louisiana State Police. The prosecution was led by Assistant United States Attorney Seth D. Reeg, who represented the federal interests in this severe case of financial misconduct.
This case serves as an emblematic reminder of the strict legal repercussions associated with fraudulent financial activities, especially during vulnerable economic times. The actions undertaken by Owen not only undermined the integrity of the bankruptcy process but also exploited a governmental program designed to assist businesses during a national crisis, thereby impacting various stakeholders including employees, creditors, and the wider community.
In conclusion, Brandon T. Owen’s sentence reflects the judicial system’s commitment to penalizing financial crimes that exploit both governmental resources and the trust of the public and businesses alike. His case highlights the importance of adherence to legal agreements and ethical business practices, underscoring that unlawful behavior carries significant consequences.
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Additional Resources
- WGNO: Former Owner of Local Oilfield Consulting Service Sentenced for Money Laundering
- MSN: Former Owner of Local Oilfield Consulting Service Sentenced for Money Laundering
- Shreveport Times: Northwest Louisiana Businessman Pleads Guilty to Money Laundering
- Encyclopedia Britannica: Money Laundering
- KTBS: Former President of Local Oilfield Consulting Service Sentenced for Money Laundering
- Google Search: Money Laundering News
Author: STAFF HERE SHREVEPORT WRITER
The SHREVEPORT STAFF WRITER represents the experienced team at HEREShreveport.com, your go-to source for actionable local news and information in Shreveport, Caddo Parish, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Mudbug Madness Festival, Red River Revel Arts Festival, and Independence Bowl. Our coverage extends to key organizations like the Shreveport-Bossier Chamber of Commerce and Shreveport Regional Arts Council, plus leading businesses in gaming, healthcare, and energy that power the local economy such as Horseshoe Casino, Ochsner LSU Health, and Atmos Energy. As part of the broader HERE network, including HEREBatonRouge.com and HERENewOrleans.com, we provide comprehensive, credible insights into Louisiana's dynamic landscape.
