American Expat Deported from Panama to Face Fraud Charges
(By KSEE News) United States Attorney Benjamin B. Wagner announced that 55-year-old Joseph Randall Medcalf formerly of Clovis, was deported over the weekend by Panama to the United States after being arrested late last week in Panama. On March 24, 2011, a federal grand jury in Fresno indicted Medcalf charging him with defrauding investors of $3.2 million. According to the indictment, from May 2002 to October 2007, Medcalf, a financial adviser, defrauded his clients by encouraging them to invest in bogus investment opportunities, primarily two that he had formed himself: All Valley Holdings LLC and CenCal Value Investments LLC. The indictment alleges that Medcalf did not invest the clients’ money as promised but used it for his own personal expenses and enjoyment.
In October 2007, Medcalf filed for personal bankruptcy in order to discharge his debts related to this scheme. According to the indictment, he fled the United States in 2008. U.S. Attorney Wagner said: “You can run, but you can’t hide. International cooperation in the pursuit of fugitives is essential as we combat complex financial crimes. Mr. Medcalf is the latest in a long list of fugitives who have been brought back to the United States to face justice. My office is grateful to the authorities in Panama for their assistance in this matter.”
Medcalf will appear in federal court Tuesday in Atlanta, Georgia where he re-entered the United States in custody on Saturday. It is anticipated that he will eventually be ordered transported to federal court in Fresno to face the present charges.
This case is the product of an extensive investigation by the Federal Bureau of Investigation. Assistant United States Attorney Stanley A. Boone is prosecuting the case. The Office of International Affairs in the Justice Department’s Criminal Division assisted in the coordination of Medcalf’s deportation to the United States.
If convicted, Medcalf faces the maximum statutory penalties for the mail and wire fraud counts of 20 years in prison and a $250,000 fine. Any sentence will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.
The charges are only allegations, and the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.
Editor's Comment: What a moron. According to my sources within the DIJ, Joseph Randall Medcalf went to their offices in Ancon in Panama City to file a report stating his US passport had been stolen. If your passport has in fact been stolen, the US Embassy requires the DIJ report before they will issue you a new one. And as a standard practice the Interpol office at the DIJ ran a background check. When they discovered Medcalf was wanted in the United States they arrested him on the spot. I'm trying to find out where he was living in Panama and what alias he was using while he was here. I don't have a photo of him yet, but I have asked the authorities in California to send me a booking photo or something of him. So, if you have a friend or neighbor named "John Smith" or something else equally creative who suddenly disappeared over the weekend - maybe that was him. Here's a link to the press release announcing his deportation from Panama. Several news outlets in the United States have all reported on this story, based completely on the press release.
