5Linx co-founders set to appear in federal court for fraud scheme

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The three executives of the Rochester based marketing company 5Linx who were charged with wire fraud in a multi-million dollar fraud scheme are set to appear in federal court today.

Police say Jason Guck, Craig Jerebeck and Jeb Tyler collectively diverted $4 million from 5Linx into their own personal bank accounts. All three individuals also face conspiracy charges.

Starting in 2001, Jerabeck served as president and CEO, while Guck and Tyler were vice presidents at the company.

Jerabeck, Tyler, and Guck are accused of withholding information about the three running the fake shell companies from investors individually and collectively. Inaccurate corporate financial documents were issued that significantly understated the company’s available cash as a result.

If convicted, they could spend up to 20 years in federal prison.

Article SourcE: http://13wham.com

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