Estate Planner In South Dakota Gets Three Years For Wire Fraud And Money Laundering

An estate planner in South Dakota has been sentenced to more than three years in federal prison for fraud. The 58-year-old Randall McKee was also ordered by U.S. District Court Chief Judge Jeffrey Viken to pay more than $685,000 in back pay to go along with his three-year sentence for his conviction for multiple counts of wire fraud and money laundering. Authorities had accused mr. Mckee of setting up a real estate development scheme that had defrauded investors of over $625,000. “Authorities also accused McKee of using his position as a trustee for a disabled man to take more than $80,000 for his own use.”  According to this column the scheme conducted by the Sioux Falls resident had gone on for years.  Wire fraud and money laundering are serious issues in estate planning and such conduct can have both civil and criminal consequences. 

See South Dakota estate planner gets over 3 years in prison in fraud case, KSFY, December 16, 2015.