The Franklin News-Post|
P. O. Box 250
310 Main Street, SW
Rocky Mount, Virginia 24151
Friday, March 22, 2013
By KEN BRADLEY - Staff Writer
A Callaway man will serve 12 years in prison for internet scams after being convicted by a jury in January of 20 charges in connection of online transactions.
Jeffrey Lynn Overstreet, 46, was sentenced Tuesday in Franklin County Circuit Court.
Circuit Court Judge W.N. Alexander II accepted the jury's recommendation of an 18-year-sentence but suspended six years.
After a two-day trial in January, a jury found Overstreet guilty of 12 counts of obtaining money under false pretense, four counts of not filing tax returns, three counts of operating a business without a registration certificate and one charge of money laundering.
In addition to the sentence, the jury also recommended Overstreet pay fines of $137,000. However, the judge suspended $100,000 of the fine.
Overstreet was ordered to pay $28,000 in restitution and was placed on probation for three years after his release. He was ordered to be of good behavior for 35 years.
Overstreet's attorney, Melvin Hill, filed a notice of appeal after the sentencing and a motion for bond was granted. Overstreet was then released on a $100,000 secured bond, according to court records.
Overstreet essentially used an online auction site between July 2008 and February 2012 to offer auto parts for sale, according to Assistant Commonwealth's Attorney Patrick Nix.
"Overstreet was offering the parts over the internet, receiving the money from buyers but never sending the parts," Nix said.
At some point, Overstreet was banned from the internet auction site. That was when he continued the scam by using other people's names and banking accounts to transfer the money, Nix said.
Overstreet was initially charged with 34 counts in connection with the internet scam and had faced a maximum sentence of 50 years and a fine of $500,000.
Four of the charges were dropped (nolle prossed), two charges were dismissed and several money laundering charges were combined into one count.