INDIANAPOLIS — A Westfield man was sentenced to five years in prison for wire fraud and money laundering. He will also serve three years of supervised release and was ordered to pay over $1,500,000 in restitution.
According to court documents, George S. Blankenbaker Jr., was charged April 1, 2021 with wire fraud and money laundering after an investigation by the Internal Revenue Service Criminal Investigation. Between May 2008 and August 2016, Blankenbaker created three business entities, Stargrower Commercial Bridge Loan Fund 1 LLC, Stargrower Asset Management LLC and EDU Holding Trust. He later used these entities, which he owned and managed, in the execution of a Ponzi and money laundering scheme.