Summerville Man Indicted on 28 Counts of Wire Fraud

A former Summerville insurance agent is accused of an investment fraud scheme and tax crimes, according to the U.S. Attorney's Office.

A federal grand jury has indicted Timothy David Mays, 48, of Summerville with 28-counts of Wire Fraud, in violation of Title 18, United States Code, Section 1343, 4-counts of Mail Fraud, in violation of Title 18, United States Code, Section 1341, 1-count of Willfully Filing a False Income Tax Return, in violation of Title 26, United States Code, Section 7206(1), and 3-counts of Willfully Failing to File an Income Tax Return, in violation of Title 26, United States Code, Section 7203.

The maximum sentence for each count of wire fraud and mail fraud is 20 years and/or $250,000, the maximum sentence for the count of willfully filing a false income tax return is 3 years and/or $250,000 plus the costs of prosecution, and the maximum sentence for each count of willfully failing to file an income tax return is 1 year and/or $100,000 plus the costs of prosecution. 

The case was investigated by agents of the Federal Bureau of Investigation and Internal Revenue Service-Criminal Investigation and is being prosecuted by Assistant U.S. Attorney Dean H. Secor of the Charleston Office.