Louisiana Businessman Pleads Guilty in Money Laundering Case

A Caddo Parish business owner has pleaded guilty to laundering over $1.1 million from his company’s bankruptcy trust funds, casting a shadow over his future.

At a Glance

Brian T. Owen pleaded guilty to money laundering charges.
Owen’s position as president of an oilfield consulting service was a façade for his financial misconduct.
The case results from the collaborative efforts of IRS, FBI, and Louisiana State Police.
Owen faces significant prison time and financial penalties.

Details of the Case

Brian T. Owen, 52, of Caddo Parish, Louisiana, has admitted his guilt in federal court on charges of money laundering. Owen orchestrated a scheme where he misappropriated funds from his company’s bankruptcy trust to offset personal expenses, including gambling debts. He was charged on September 30, 2024, with one count of money laundering, emphasizing the gravity of his actions.

As president of an oilfield consulting company based in Bossier City, Brian Owen was entrusted with steering the company through financial hardship. The company filed for Chapter 11 bankruptcy in June 2020, and a Distribution Trust was established in January 2021 as a means to repay creditors. Owen, required to allocate 30% of any additional earnings to this trust, failed to do so, ultimately defrauding it of over $1.1 million.

Impact and Investigation

Owen’s actions involved siphoning $3.8 million in Employee Retention Credits intended for his company, deceptively depositing these funds into a separate bank account without the knowledge of his senior colleagues. This maneuver allowed him to utilize the finances for personal indulgences, violating the ethical and legal expectations of his role.

The fallout from Owen’s deceit is considerable. He faces up to 10 years in prison, a fine of up to $250,000, and three years of supervised release. This significant legal affair was overseen by United States District Judge S. Maurice Hicks, Jr., and underscored by efforts from the IRS Criminal Investigation, FBI, and Louisiana State Police.

Legal Proceedings

United States Attorney Brandon B. Brown announced the charges, reflecting the seriousness of such fiscal anomalies. Assistant United States Attorney Seth D. Reeg prosecuted the case, highlighting the collaborative achievements of multiple law enforcement agencies in unveiling Owen’s injurious practices. Owen’s trial serves as a reminder of law enforcement’s unwavering dedication to maintaining fiscal integrity within the business community.