An East Texas man pleaded guilty to conspiring to commit wire fraud and conspiring to commit arson in court proceedings on Dec. 7, according to acting U.S. Attorney Brit Featherson.
According to court proceedings, 32-year-old Theodore Robert Wright III headed a multi-jurisdictional fraud and arson scheme that spanned from Hawaii to the Gulf of Mexico.
Wright and his co-conspirators, Houston native, Shane Gordon, 45, Houston native, Raymond Fosdick, 41, and Honolulu native, Edward Delima, 41, obtained assets and insurance coverage in amounts higher than their purchase prices, then devised and carried out schemes to destroy the assets and defraud insurance companies.
The scheme involved the destruction of several assets such as vehicles, aircraft and vessels.
One of the airplanes was destroyed at an airport in Athens, Texas.
Wright and his co-defendants also filed a fraudulent $1 million personal injury lawsuit related to a plane involved in the scheme that crashed into the Gulf of Mexico.
The suit was settled for $100,000.
Back in May of 2017, Wright, Gordon, Fosdick and Delima were charged with several offenses regarding their involvement in the scheme in East Texas.
Throughout the following months, the conspirators pleaded guilty, with Wright being the last one to do so.
Pending sentencing hearings, Wright, Delima and Fosdick face up to 20 years in prison. Gordon faces up to 5 years.