CPA pleads guilty to defrauding clients of nearly $2M - Chicago News and Weather | FOX 32 News

A north suburban CPA pleaded guilty Tuesday to defrauding US Bankcorp and five clients of more than $1.8 million.

Jeffrey B. Travis, 51, of Vernon Hills, remains free on bond after pleading guilty to bank fraud, a release from the U.S. Attorney's office said. U.S. District Judge Gary Feinerman scheduled sentencing for Feb. 5, 2013.

Bank fraud carries a maximum penalty of 30 years in prison and a $1 million fine, with restitution mandatory. The plea agreement recommends a sentencing range of 63 to 78 months in prison.

Travis, who ran Gross & Travis Ltd., and Travis and Associates in Deerfield, defrauding clients from at least May 2002 until December 2008, the release said.

He prepared hundreds of checks from clients payable to vendors, retirement programs and tax authorities, but deposited them into personal accounts at US Bank, the release said. He would then withdrew the money — more than $1.8 million — for personal use. Some of the checks were altered to increase the amounts paid.

As a condition of bond, Travis is required to notify clients of the conviction.