A Jonesborough Man Accused Of Bilking More Than 740-Thousand Dollars From Investors For A Fake Toner Cartridge Company Has Admitted To The Crime In U.S. District Court In Greeneville. Michael Schmidt Pleaded Guilty To Wire Fraud. He Claimed His Business, Toner Depot In Jonesborough, Had Secured Contracts With Several Businesses To Sell, Install And Service Printers And Supplies. Schmidt Faces Up To 20 Years In Prison And A 250-Thousand Dollar When He’s Sentenced September 22nd.