A Jan. 12, 2004 trial date has been set for Floyd Riley, 55, a Missouri businessman charged with 29 counts of fraud stemming from his business dealings, many of them in the recycling equipment industry.
According to the U.S. Attorney’s Office in the Eastern District of Missouri, Riley has been charged with defrauding customers of Trans World Equipment, Moberly, Mo., and Global Intermark Corp., also of Moberly. Working through those companies, Riley allegedly promised purchasers certain processing equipment, such as tire shredders or tub grinders, and then either delivered nothing or delivered equipment described as inferior by customers.
The U.S. Attorney also says that when purchasing equipment, Riley used insufficient funds checks or stop-payment checks for payment. The alleged schemes captured victims from as far away as Australia, thanks to the Web-based businesses Riley operates.
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