LITTLE ROCK, Ark. (KTHV) -- Roger Stephen Clary, 60, of Little Rock, pleaded guilty to mail fraud before United States District Judge J. Leon Holmes Thursday.
According to US Attorney Christopher Thyer, Clary created a company called Destination Ventures to buy, custom outfit and lease buses, but instead used $1,595,000 of the loan proceeds to pay companies to which he had a financial interest and had no involvement in bus leasing.
Clary faces up to 30 years in prison and/or a fine of $1 million with five years of supervised release.
Sentencing will be determined at a later date.
For more information on this case, read the PDF attached to this story.