WASHINGTON, May 18 -- The U.S. Department of Justice's U.S. Attorney's office for XXXXXX (insert district) issued the following press release:
SACRAMENTO, Calif. - Hector Perez, 35, of Stockton, pleaded guilty today to wire fraud and aggravated identity theft for his role in a scheme to defraud companies of $2million, U.S.Attorney Eric Grant announced.
According to court documents, between May 2018 and November 2020, Hector Perez and his brother Flavio Perez, 30, of Stockton, carried out a fraudulent scheme targeting invoice factoring companies.
Invoice factoring is a financial service that provides immediate cash flow to a business in exchange for the business's outstanding invoices. The invoice factoring company, which has bought the o...