Former NKY developer Bill Erpenbeck, who defrauded people of millions, is out of prison – MASHAHER

ISLAM GAMAL11 June 2024Last Update : 9 months ago

A former Northern Kentucky developer who scammed homeowners, contractors, and banks in a massive check-kiting scheme was recently released from federal prison.

William “Bill” Erpenbeck, 63, headed one of the region’s largest home-building companies before he pleaded guilty in 2003 to defrauding eight banks out of $33.9 million, The Enquirer previously reported.

Bill Erpenbeck, former head of the Erpenbeck Co., walks to the Boone County Sheriff's office Friday afternoon, May 10, 2002, to turn himself over to authorities after a warrant was issued for his arrest on a charge of theft by deception. — Bill Erpenbeck, former head of the Erpenbeck Co., walks to the Boone County Sheriff’s office Friday afternoon, May 10, 2002, to turn himself over to authorities after a warrant was issued for his arrest on a charge of theft by deception.

Erpenbeck and several employees diverted home-sale proceeds to his company’s accounts from 1999 to 2002, all while treating employees to lavish perks, like an annual Caribbean cruise.

He was sentenced to 30 years in prison, though, that sentence was reduced to about 20 years in federal prison.

In 2009, federal agents found $250,000 buried in a cooler at the Summit Hills Country Club golf course after Erpenbeck reportedly asked a friend to bury the cash for him so he could dig it up after getting out prison.

This article originally appeared on Cincinnati Enquirer: Former Northern Kentucky developer Bill Erpenbeck released from prison

Source Agencies