3RD 5Linx Defendant Pleads Guilty

posted by Newsradio WHAM 1180 - 

The third and final owner of the former 5Linx company has pled guilty to wire fraud and tax evasion charges.

Federal prosecutors say Jason Guck pled guilty to charges carrying a maximum penalty of 20 years in prison. Together with co-defendants Craig Jerabeck and Jeb Tyler, Guck founded 5Linx as a multi-level marketing company that offered products from telecommunications services to insurance. 

In 2006, the three men sold $5.5 million of 5Linx stock to three investment companies, but continued to receive direct payments from company vendors without the knowledge of their new investors, siphoning off $2.3 million they weren't entitled to. They also didn't report that income to the IRS.

All three have now been found guilty and are awaiting sentencing.

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