James Woods, Jr., 48, of Craigsville, pleaded guilty to one count of wire fraud before United States District Judge Frank W. Volk at the federal courthouse in Beckley.
Woods, former owner of AJM Corporation in Summersville, entered his guilty plea on Friday, December 9.
According to court documents, Woods admitted that he fraudulently applied for a line of credit back in 2016 at State Equipment Inc., located in Beckley, using the name of a company that he did not own, so that he would be able to lease a CASE Model 850 bulldozer.
The $10,000 credit application was approved and the bulldozer was delivered to Woods at one of his job sites. The victim contacted State Equipment Inc. once he discovered his name had been used to obtain a fraudulent line of credit. The bulldozer was later recovered by the West Virginia State Police and the equipment provider, court documents show.
At the plea hearing, Woods admitted that he did not have the victim’s permission to apply for credit under his company’s name.
Woods faces up to 20 years in prison. His sentencing is scheduled for March 18, 2022.