FOR IMMEDIATE RELEASE
Date: September 5, 2006
Contact: Paul E. Daymond, Media Representative
Direct Dial: (205) 279-1457

FBI ARRESTS BIRMINGHAM MAN FOR MONEY LAUNDERING, MAIL FRAUD AND INTERSTATE TRAVEL TO CARRY OUT FRAUD SCHEME

Birmingham, AL - Special Agent in Charge (SAC) Carmen S. Adams announced the arrest of JOHN C. ISSACS, 64 of Birmingham. ISSACS is also known as JOHNNY ISSACS. He was the owner of Automotive Torque Converters (ATC) located in Gadsden, Alabama. It is alleged that ISSACS solicited investors, some of whom traveled from other states, to invest in distributorships in ATC or to invest with a promise of high percentage returns. Additionally, ISSACS is alleged to have used funds from other investors to float funds and pay previous investors through a scheme he devised. The loss resulting from this alleged scheme is approximately $1,500,000.00.

"Investment fraud is not taken lightly," Mrs. Adams stated. "The citizens of Alabama can be assured that the FBI will pursue anyone who violates Federal laws regarding fraud."

SAC Adams thanked the Internal Revenue Service (IRS) for their assistance in this investigation.