Oologah Man Guilty Of Fraud Dies

Thursday, June 11th 2009, 12:59 pm
By: News On 6


TULSA, OK -- An Oologah man accused of bilking dozens of investors out of millions of dollars has died.

Todd Bingham was pronounced dead Wednesday evening at a Tulsa hospital.

Tulsa Police say they are investigating the case as a suicide.

Bingham was supposed to appear in a federal court in Connecticut Wednesday where he was to be sentenced for a scam that lasted for six years.

6/10/2009 Related story: Oklahoma Man Attempts Suicide Before Sentencing

The scam involved 42 investors and more than $7 million.

Authorities say the Oologah native told investors he was buying used cars at auction and selling them for a profit to car rental companies, like Enterprise.  But he wasn't.

Federal prosecutors say he used the money for his mortgage, credit cards, and even to go on vacation.

Bingham was facing five-and-a-half to seven years in federal prison.

Tulsa Police say Bingham was found early Wednesday morning in his SUV parked near the airport, with a gunshot wound to the head.

Police believe he may have been on his way to the airport to catch a flight to Connecticut for his sentencing.

The U.S. Attorney's office in Hartford has been notified about the death is deciding how to proceed with the case, which includes demands for payment of back taxes and penalties, as well as restitution that could reach $5 million.