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September 10, 2018

Posted  September 10, 2018

Michael Brian Anderson, a shrimper and fisherman, has been sentenced to 77 months in prison for defrauding Customs & Border Protection (CBP), after earlier being convicted of false statements, mail fraud, and money laundering. Under the Continued Dumping and Subsidy Offset Act of 2000 (CDSOA), federal subsidies are made available to American shrimpers to offset revenue lost to competitors in the global marketplace. As a domestic shrimper, Anderson was eligible to apply for the subsidies but fraudulently inflated his expenses to more than $24 million for a two year period. He then received $800,00 in subsidies, which he used to purchase boats, real estate, and stocks. In addition to his prison sentence, he is now due to pay restitution to CBP for $818,234. USAO SDGA

Tagged in: Customs Fraud, Financial and Investment Fraud,