Protective Capital Structures Corp. (fka PCSO)

[LottoVet]

Here is the press release from the DOJ site.

http://www.usdoj.gov/usao/de/press/2008/HeritageRelease.pdf

U.S. Department of Justice
United States Attorney’s Office
District of Delaware
Nemours Building [phone]
1007 Orange Street, Suite 700 FAX [phone]
P.O. Box 2046
Wilmington, Delaware 19899-2046
FOR IMMEDIATE RELEASE CONTACT: Lesley F. Wolf
September 12, 2008 Assistant United States Attorney
[phone], ext. 106
PRESS RELEASE
WILMINGTON COUPLE INDICTED FOR ALLEGED ADVANCED FEE
SCHEME
Colm F. Connolly, United States Attorney for the District of Delaware, announced today that Ed
Johnson, age 59, and Gwendolyn Carol Johnson, age 65, of Wilmington were indicted by a federal grand
jury on September 11, 2008 for numerous fraud-related offenses. More specifically, Mr. Johnson was
charged with five counts of mail fraud and seven counts of wire fraud, while Mrs. Johnson was charged with
four counts of mail fraud and six counts of wire fraud, each count punishable by a maximum term of 20
years imprisonment and a maximum fine of $250,000. The indictment also charges Mr. and Mrs. Johnson
with one count of conspiracy to commit mail and wire fraud as well as one count of engaging in an illegal
monetary transaction in violation of Title 18, United States Code, § 1957.
The Indictment alleges that Mr. and Mrs. Johnson, operating through Heritage Capital Credit
Corporation, engaged in a multi-year scheme, where they collected significant fees from loan applicants
seeking funding for a variety of building and development projects. However, Mr. and Mrs. Johnson had
no source of funding available at the time they collected these fees, nor was this funding imminently
available. The Johnsons continued to make misrepresentations regarding their ability to fund loans through
2007.
United States Attorney Connolly said, “The Indictment reflects this office’s commitment to hold
accountable those who use Delaware as the launching pad for their fraudulent schemes.”
The case was investigated by the Federal Bureau of Investigation and the United States Postal
Inspection Service and is being prosecuted by Assistant United States Attorney Lesley Wolf.
Members of the public are reminded that an Indictment is only an allegation and that a defendant
is presumed innocent until proven guilty.