WASHINGTON – Lawrence Paul Schmidt, aka Lawrence Schmid, 61, formerly of Washington, D.C., pleaded guilty today to bank fraud after being extradited from the United Kingdom to the District of Columbia in late 2020 in connection with federal charges related to an investment fraud scheme.

The announcement was made by Acting U.S. Attorney Channing D. Phillips and Wayne A. Jacobs, Special Agent in Charge of the FBI’s Washington Field Office Criminal Division.

Schmidt was indicted in November 2018 on two counts of bank fraud, two counts of wire fraud, and six counts of engaging in monetary transactions in property derived from specified unlawful activity. He pleaded guilty to a bank fraud charge in the U.S. District Court for the District of Columbia.  The remaining charges will be dismissed at sentencing.  Bank fraud carries a statutory maximum sentence of 30 years in prison and potential financial penalties.  Under federal sentencing guidelines, Schmidt faces a likely range of 41 to 51 months in prison, a fine of up to $150,000, and restitution. The Honorable Amy Berman Jackson scheduled sentencing for Dec. 17, 2021. Schmidt remains in custody pending sentencing.

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