Bluefield man sentenced in federal court for faking invoices - Beckley, Bluefield & Lewisburg News, Weather, Sports

Bluefield man sentenced in federal court for faking invoices

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  • Deadly shooting at a large party in Beckley

    Man dies after a Shooting during a Party outside of Beckley, Now the Search is On for the Suspect

    Man dies after a Shooting during a Party outside of Beckley, Now the Search is On for the Suspect

    Sunday, September 14 2014 3:10 PM EDT2014-09-14 19:10:52 GMT
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    The Raleigh County Sheriff's office responded to a shooting at a party just outside of Beckley early Sunday morning. As a result of these gunshots, Roland Howard Frazier, 23, was hit and later died.
  • UPDATE: Beckley Police catch suspects involved in shooting on Summers Street

    UPDATE: Beckley Police catch suspects involved in shooting on Summers Street

    Sunday, September 14 2014 2:48 PM EDT2014-09-14 18:48:51 GMT
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    After 19 year-old Tyrell Smith was shot twice on his hip and wrist, the suspects have been found. Detective Bragg with the Beckley Police Department said they quickly got tips as to where the suspects were. Once they found the vehicle near Antonio street, there was a short pursuit, then police caught the suspects.
  • A Tazewell County Mother Says Eric Smith Will Not Be Forgotten 10 Months After His Disappearance

    A Tazewell County Mother Says Eric Smith Will Not Be Forgotten 10 Months After His Disappearance

    Saturday, September 13 2014 8:51 PM EDT2014-09-14 00:51:17 GMT
    It's been ten months since a man was reported missing in TazewellCounty.Police said Eric Smith, a General Mine Foreman at Buchanan Mine No. 1 in Buchanan County,Virginia,was reported missing onNovember 8, 2013after he failed to return home from a hunting trip.Eric Smith's mother, Dreama Smith, said she will never let Eric be forgotten.Dreama said, "We pray everyday that something will open."Cedar Bluff Police Chief, David Mills, said they are constantly checking leads.Mills said, "Everyday so...
    It's been ten months since a man was reported missing in TazewellCounty.Police said Eric Smith, a General Mine Foreman at Buchanan Mine No. 1 in Buchanan County,Virginia,was reported missing onNovember 8, 2013after he failed to return home from a hunting trip.Eric Smith's mother, Dreama Smith, said she will never let Eric be forgotten.Dreama said, "We pray everyday that something will open."Cedar Bluff Police Chief, David Mills, said they are constantly checking leads.Mills said, "Everyday so...

A Bluefield resident who had been in the mining supply business was sentenced to 16 months in prison for falsifying thousands of dollars in bank transactions.

U.S. Attorney Booth Goodwin said Michael J. Prasatek Sr., 67, admitted to structuring the bank transactions earlier this year.

Prasatek, who had managed several supply companies in and around southern West Virginia since 1978, admitted he knowingly provided a coal mine operator with bogus invoices in a scheme known as "selling cash." In exchange for fake supply invoices, Prasatek would receive a check in the amount of the fictitious invoice and later deposited the money into his personal bank account, then returned the cash to his associate for a fee. Goodwin said Prasatek knew  the false invoice could be used for unlawful purposes, such as filing a false tax deduction.  

To further his scheme, Prasatek admitted to opening checking accounts at two McDowell County banks using the names "Michael Prasatek DBA Prestige Paving & Sealing" and "Michael Prasatek DBA Quality Services" and routinely structured cash withdrawals.  "Structuring" involves breaking transactions down in increments of $10,000 or less to avoid financial institution reporting requirements to the IRS.

Prasatek admitted that from May 2010 until December 2011, he structured cash transactions totaling roughly $55,000, to intentionally avoid the mandatory financial reporting requirements.

In addition to his prison sentence, Senior U.S. District Court Judge David A. Faber required Prasatek to complete three years of supervised release and ordered him to pay a $3,000 fine.

The investigation was conducted by the IRS.  Assistant U.S. Attorney Thomas Ryan prosecuted the case.