James R. Gibson, an evil lowlight in the history of the structured settlement industry, has been denied compassionate release from his 480 month (40 year) prison sentence that he is serving in the low security prison FCI Miami, in Miami,Florida. BOP Register Number: 62228-004
What is James R. Gibson Doing Time For?
On September 21, 2005, the Southern District of Illinois sentenced Defendant Gibson to a term of 480 months.
On November 3, 2005, the Court ordered restitution in the amount of $83,282,767.42. A jury found Defendant guilty of conspiracy to commit mail and wire fraud in violation of 18 U.S.C. § 371; mail fraud in violation of 18 U.S.C. § 1341; wire fraud in violation of 18 U.S.C. § 1343; and conspiracy to commit money laundering in violation of 18 U.S.C. § 956(h).
James R. Gibson Self-Serving Slime Who Purloined From The Needy
Gibson was owner and president of SBU, Inc. and several other companies around St. Louis, MO. United States v. Gibson, 490 F.3d 604, 606 (7th Cir. 2007). Under the guise of a legitimate business operation, Gibson stopped buying Treasury
obligations with his clients’ settlement funds and instead spent over $16 million of his clients’money on unauthorized business transactions, high-risk investments, and real estate and luxury items for his own use. Id.
The total loss of Gibson's clients was $156,194,810.92 and many of them needed the money to support themselves and fund necessary medical treatment. Id. Also Man who stole from orphans sentenced to jail (nbcnews.com) September 21, 2005 and Gibson convictions upheld: Investor who stole from widows, orphans helped by judges | Madison - St. Clair Record (madisonrecord.com) August 16, 2007.
Gibson referred to as a "parasite" 'Parasite' handed 40-year sentence (chron.com) September 22, 2005
U.S. District Judge J. Phil Gilbert labeled James R. Gibson “nothing more than a flimflam man of the first degree who used SBU as your own personal piggy bank". Man who stole from orphans sentenced to jail (nbcnews.com) September 21, 2005
NATIONAL FOOD'S EX-OWNER IS HIT BY CIVIL SUIT (supermarketnews.com) October 25, 1999
James R. Gibson Skipped Town With Millions of His Clients' Money
After Gibson’s attorney informed him he was under government investigation for the mismanagement of client funds, him and his wife set sail to Belize and wired over $3 million of those clients’ funds to Belize bank accounts. Id. The couple returned to the United States and went back to Belize in July 1999. Id. Gibson was originally sentenced on April 15, 2002.
Gibson was charged in March 2001 in an eight-count indictment with conspiracy to commit mail and wire fraud (Count 1), mail fraud (Counts 2-4), wire fraud (Counts 5-6),conspiracy to commit money laundering (Count 7), and a forfeiture count (Count 8). In October of the same year, Gibson’s wife was added to and charged regarding the same counts (Doc. 30). Defendant was arrested in Belize on May 10, 2001, and subsequently returned to the United States.Gibson, 490 F.3d at 606. Gibson
pled guilty to one count of conspiracy to commit mail and wire fraud on January 8, 2002.
Pursuant to the plea agreement, the government dismissed the remaining seven counts and Gibson, who was sentenced to 262 months’ imprisonment. Id. at 606. Defendant appealed and the Seventh Circuit Court of Appeals vacated and remanded to the district court for further proceedings on February 26, 2004. Id. at 607. The Government moved to reinstate the counts of
the indictment dismissed pursuant to the plea agreement and charges were reinstated on July 14,2005. Id.
James R. Gibson Threatened to Kill a United States District Court Judge!
At this time, Gibson made a credible threat that he would have District Court Judge Murphy killed and Judge Murphy was forced to recuse himself from this matter. Id. at fn 2. Gibson fired several count-appointed counsels and proceeded pro se in front of the Court. Id.
On May 2, 2005, the Gibson was found guilty of Counts 1-7 of the superseding indictment after a 14-day jury trial. (Doc. 463, 472). On September 21, 2005, Defendant was sentenced to 480 months’ imprisonment, supervised release of three years, and ordered to pay restitution in $83,282,767.42, and a $700 special assessment. (Doc. 566). Gibson appealed and the Seventh Circuit affirmed this Court’s judgment on March 6, 2007. (Doc. 595). Gibson’s projected release date is July 7, 2035,
Last updated February 25, 2023