4 charged in conspiracy to commit fraud and launder money

From The Mississippi Link Newswire

JACKSON – Federal officials said that H. Claiborne Frazier, Austin W. Frazier, Cresco Elmore (“C.E.”) Frazier, Jr., and Spencer Copeland have been charged in a two-count indictment.

H. Claiborne Frazier, formerly of Brandon, Austin W. Frazier, formerly of Ridgeland, and C.E. Frazier, Jr., formerly of Jackson, owned and operated C.E. Frazier Construction, Inc. and several other businesses. Spencer Copeland is the step-brother of H. Claiborne Frazier and Austin W. Frazier.

Count one of the indictment charges H. Claiborne Frazier, Austin W. Frazier, and C.E. Frazier, Jr., with conspiracy to commit bank, mail and wire fraud, officials said Tuesday.

According to the indictment, these defendants made false and misleading statements to banks in relation to construction projects and to a surety and bonding company in relation to bonds issued to C.E. Frazier Construction Company.

Count two of the indictment charges Austin W. Frazier, C.E. Frazier, Jr., and Spencer Copeland with conspiracy to commit money laundering. According to the indictment, these defendants conspired to conceal the money that they obtained through the fraudulent statements by transferring it through various bank accounts and taking other steps.

Count one of the indictment carries a maximum penalty of 30 years imprisonment. Count two of the indictment carries a maximum of 20 years of imprisonment.

The Fraziers made their initial appearances Tuesday afternoon before Magistrate Judge Keith Ball, who set a trial date of Feb. 5, 2013, before U. S. District Judge Dan P. Jordan, III.