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BEAUMONT — A Beaumont man has been sentenced to federal prison and ordered to pay over $1 million in restitution for federal violations in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs. 

 Michael James White, 35, pleaded guilty to wire fraud and was sentenced to 78 months in federal prison by U.S. District Judge Marcia A. Crone on September 17, 2024.  White was also ordered to pay $1,179,216.92 in restitution. 

 According to information presented in court, White was the owner and operator of Gold Pro, LLC, a business in Vidor that bought and sold precious metals like gold and silver.  The company marketed their products as “financial security for future financial uncertainty.”

Gold Pro operated by promising potential buyers from across the United States a certain number of precious metals, then obtaining payment from customers through the wire transfer of funds from the buyer’s bank account to Gold Pro’s bank account. White communicated by email, telephone, or computer chat with potential buyers about the amount of precious metals the buyer would buy and agreed on a price for the precious metals and their delivery.

Beginning in 2021, in multiple instances after receiving payment, White did not deliver the precious metals to the buyer, delivered a product of lesser value, or delivered fake precious metals. For approximately three years, beginning in 2020, White defrauded numerous victims throughout the United States, resulting in a loss of more than $1 million.

 This case was investigated by the FBI and the Beaumont Police Department and prosecuted by Assistant U.S. Attorney Reynaldo P. Morin.