Huntley man pleads guilty to fraud

First, he befriended them. Then, he gained their trust. Last, he asked for their money.

And they gave it to him.

Frank Beaudette, 60, of Huntley pleaded guilty in Federal Court to wire fraud Thursday, according to a news release from the United States Department of Justice. He admitted to fraudulently obtaining loans, which totaled more than $800,000.

His crime had at least 10 victims.

He would tell his newfound friends that he needed money for another friend he claimed was in the computer business. This “friend” needed money to flush out a large sale of computer equipment, Beaudette said.

Beaudette gave the victims personal promissory notes, which stated that he would repay their principal with large amounts of interest.

But Beaudette had no friend in the computer industry. Instead, he spent the peoples’ money on personal things.

Beaudette also claimed to own a business called “Thunderbird Aviation,” which he said brokered sales of airplanes. When it was time to repay the loans, Beaudette would feign that his fabricated friend had been unable to collect what was owed after the computer sale transaction. He promised to repay the loans personally with the earnings from his fake business.

The charge for Beaudette’s crime carries a maximum penalty of 20 years in prison and up to a $250,000 fine — or an alternate fine totaling twice the loss or twice the gain, whichever is greater — a period of supervised release of up to three years after time in prison and restitution. The sentence will be determined by the United States District Court April 10.