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Bank Fraud

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NEWS
February 4, 1994 | By Joseph A. Slobodzian, INQUIRER STAFF WRITER
Richard H. Rossmiller, the man considered the biggest individual borrower in the nation's savings-and-loan scandal and to whom Montgomery County's Hill Financial Savings Association lent more than $100 million before collapsing, was sentenced yesterday to more than four years in prison and ordered to make restitution of $10 million. "You have a lot of talent, you have ambition," U.S. District Judge Joseph L. McGlynn Jr. told Rossmiller. "I don't think there's any question that you can be a successful, productive citizen when you again get that opportunity.
NEWS
November 24, 1989 | By Joseph A. Slobodzian, Inquirer Staff Writer
The U.S. Attorney's Office has announced the filing of criminal charges against an officer of a defunct Montgomery County soft pretzel company, charging him with defrauding six financial institutions of almost $1 million in loans for the company. Howard J. Taggart, 41, of Lansdale, former vice president and manager of Trotter Soft Pretzels Inc. of Hatfield Township, was charged in the criminal information Wednesday with one count of bank fraud and one count of interstate transportation of stolen securities.
NEWS
September 11, 1986 | By Emilie Lounsberry, Inquirer Staff Writer
An Iranian citizen who posed as a Saudi prince was indicted yesterday by a federal grand jury on charges that he defrauded William Penn Bank in Center City and the bank's former president of about $260,000 last year. Assistant U.S. Attorney Nicholas C. Harbist said an arrest warrant had been issued for the man, Mousalreza Ebrahim Zadeh, 46, of Fresno, Calif., who has been in the United States with the immigration status of permanent resident. Zadeh was charged with one count of bank fraud and four counts of wire fraud.
NEWS
June 9, 2000 | By Sudarsan Raghavan, INQUIRER STAFF WRITER
A federal grand jury yesterday indicted a Bucks County truck-leasing company owner and an employee, who are accused of tricking a Philadelphia bank into lending the company $1.5 million to buy trucks that were never bought. The money instead was used by Walter L. Ball of Solebury to run his failing business, Austin Truck Rental Inc., and to pay himself "tens of thousands of dollars in income," prosecutors allege. If convicted, Ball, 66, and his controller, Diane T. Hood, 53, of Elkins Park, each face maximum prison terms of 30 years.
NEWS
December 11, 2012
A Main Line developer pleaded guilty Monday to defrauding two banks to get $13 million, prosecutors said. Michael Pouls, 50, pleaded guilty to wire and bank fraud and false statements in a hearing before U.S. District Judge Paul Diamond, according to the office of U.S. Attorney Zane David Memeger. Pouls had only $3,000 in bank accounts in 2007 when he created false statements suggesting he had $28 million. At the time, Pouls was seeking loans from National Penn Bank and Wilmington Trust Co. Diamond set his sentencing for March 11. - John P. Martin
NEWS
June 23, 2010
U.S. District Judge Jan E. DuBois has declared a mistrial in the case of the Budge Industries CEO who was charged last year with five counts of bank fraud. Howard Bruce Klein, attorney for Charles Simon, 57, of Blue Bell, said the jury was deadlocked, 10-2, for acquittal after two days of deliberations. In court filings, Klein said the alleged fraud occurred nearly 10 years ago. The case involved a $1.3 million loss to Summit Bank. Two other defendants earlier pleaded guilty. A spokeswoman for the U.S. Attorney's Office said it was premature to say whether prosecutors would seek a retrial.
NEWS
December 20, 2002 | By Chris Gray INQUIRER STAFF WRITER
Officials at a widely known Conshohocken auto auction were found guilty yesterday of defrauding 10 banks of $418,657 by underreporting the sales from more than 300 repossessed vehicles. Between 1993 and 1996, Carriage Trade Auto Auction manager Timothy Smith and his assistant, Paul J. Leahy, kept two sets of receipts for numerous repossessed cars on their lot, the U.S. Attorney's Office charged. The auction was supposed to sell the cars, repossessed by the banks, to the highest bidder.
NEWS
May 22, 1992 | By Thomas Turcol, INQUIRER STAFF WRITER
An Atlantic City entrepreneur was convicted by a federal jury in Newark yesterday of defrauding and lying to bankers in connection with a company she had formed to help inner-city businesses. Marsha Allen-Collins, 38, was convicted in U.S. District Court on one count of bank fraud and four counts of making false statements to various banks. The jury deadlocked on another charge of falsifying statements to bank officials. Allen-Collins, a graduate of Harvard Business School, faces a maximum 13- year prison term and fines of up to $1.25 million, according to the U.S. Attorneys Office in Newark, which prosecuted the case.
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NEWS
December 17, 2015 | By Mari A. Schaefer, STAFF WRITER
Three Chester City residents were indicted Tuesday on charges of filing false land deeds for about $5 million worth of properties, then occupying or renting or selling them. Steven Hameed, 56, Darnell Young, 48, and Damond Palmer, 41, filed the false deeds with the Delaware County Recorder of Deeds office for properties owned by the government or banks, according to the U.S. Attorney's Office in Philadelphia. They each were charged with conspiracy, bank fraud, interference with tax laws, and related crimes.
NEWS
October 23, 2015 | By Jeremy Roebuck, Inquirer Staff Writer
Chaka "Chip" Fattah Jr. challenged his former roommate and ex-business partner in federal court Wednesday, a day after the man offered unflattering testimony against Fattah in his bank- and tax-fraud trial. In a tense cross-examination, Fattah - the 32-year-old son of U.S. Rep. Chaka Fattah (D., Pa.) - confronted Matthew Amato, 33, about their efforts to launch a personal concierge service in 2005 and government allegations that they blew thousands of dollars they borrowed to support the business to outfit themselves with the trappings of a luxury life.
NEWS
October 22, 2015 | By Jeremy Roebuck, Inquirer Staff Writer
Words such as silly and facade were deployed Tuesday by prosecutors and their witnesses as they continued to sketch the business portfolio of Chaka "Chip" Fattah Jr. But for Matthew Amato - Fattah's onetime business partner and former roommate at Drexel University - one word was enough to sum up his experience working closely with the son of a longtime Democratic congressman: ridiculous. "It was all from our minds - made up," Amato testified Tuesday, the third day of Fattah's federal bank- and tax-fraud trial.
NEWS
October 7, 2015 | By Chris Brennan, Inquirer Staff Writer
Rep. Brian Sims has been in the Republican-controlled state House for nearly three years, and in that time, the Center City Democrat has had no legislation become law. Sims says that won't deter him from seeking a seat in another GOP stronghold, the U.S. House. He announced his candidacy Tuesday, bringing to three the number of Democratic challengers to the embattled 11-term incumbent, U.S. Rep. Chaka Fattah. Sims said he was warned by fellow Democrats after winning his 182d District seat in 2012 that the Republicans who control the state House would stymie him. "It drives me crazy some days that we're not able to move more of my legislation forward," Sims said while acknowledging that the U.S. House "may be even more divisive.
NEWS
October 3, 2015 | By Chris Brennan, Inquirer Staff Writer
U.S. Rep. Chaka Fattah, now facing public corruption charges, may soon have a third challenger in next spring's April 26 Democratic primary. State Rep. Brian Sims on Thursday sent out invitations to a fund-raiser next week for the "Brian Sims for Congress Exploratory Committee. " The invitation asks donors to "Join Rep. Sims for a candid conversation about bringing ethical behavior back into Philadelphia Area Politics. " Gold sponsors for the Tuesday event are asked to contribute $2,700 – the maximum individual contribution allowed in federal election campaigns.
NEWS
August 24, 2015 | BY JULIE SHAW, Daily News Staff Writer shawj@phillynews.com, 215-854-2592
A FEDERAL JUDGE yesterday scheduled U.S. Rep. Chaka Fattah's corruption trial for May 2 of next year. That's a week after the April 26 primary, in which Fattah is expected to face at least one challenger. Dan Muroff, an East Mount Airy attorney and leader of the 9th Ward Democratic Committee, intends to run against Fattah. In his order yesterday, U.S. District Judge Harvey Bartle III noted that the trial is expected to last six weeks. Fattah's four co-defendants also face trial that day. Fattah, 58, a Democrat and 11-term congressman who represents parts of Philadelphia and Montgomery County, pleaded not guilty Tuesday before a magistrate to a slew of charges, including bribery, racketeering, conspiracy, money laundering and fraud.
NEWS
August 20, 2015 | By Chris Brennan, Inquirer Staff Writer
U.S. Rep. Chaka Fattah, under indictment on federal corruption charges, now has a challenger in the April 26, 2016, Democratic primary election. Dan Muroff, a lawyer from East Mount Airy and the Democratic leader for the politically potent Ninth Ward, last week filed a statement of candidacy with the Federal Election Commission. Fattah, 58, who was indicted last month on charges of racketeering, bank fraud, bribery, money laundering, and other crimes, has vowed to seek a 12th two-year term in office.
NEWS
July 31, 2015 | By Chris Brennan, Inquirer Staff Writer
U.S. Rep. Chaka Fattah vowed Wednesday to seek a 12th term in office next year, not long after he was indicted on federal charges of racketeering, bank fraud, bribery, money laundering, and other crimes. "The voters have to make that decision, but I will be on the ballot in my district, and I will offer myself, and we'll have to live with the judgment that they make," Fattah said in the Capitol. Back home in Philadelphia, the subtle scramble for political positioning to possibly succeed Fattah in the Second District was well underway.
NEWS
July 31, 2015 | BY WILLIAM BENDER and DANA DiFILIPPO, Daily News Staff Writers benderw@phillynews.com, 215-854-5255
DID YOU HEAR that noise yesterday morning? That was the sound of the other shoe dropping. Of course, it dropped on Twitter. The first tweets to emerge from an 11 a.m. news conference - Fattah indicted - reverberated from Independence Mall to Washington, D.C. Nearly a year after U.S. Rep. Chaka Fattah, D-Phila., was ominously described as "Elected Official A" in a former aide's plea deal, federal prosecutors gathered on the eighth floor of...
NEWS
July 31, 2015 | By Jeremy Roebuck, Mark Fazlollah, and Chris Brennan, Inquirer Staff Writers
Federal prosecutors on Wednesday accused U.S. Rep. Chaka Fattah of using his campaign coffers, charities he created, and federal grant funds he controlled to bankroll a failed 2007 Philadelphia mayoral bid, and line the pockets of family members and close political allies. The 11-term Democratic congressman, who holds a seat on the powerful Appropriations Committee, was charged in a 29-count racketeering conspiracy indictment that alleges he channeled hundreds of thousands of dollars to pay off an illegal $1 million campaign loan as well as the college debts of son Chaka "Chip" Fattah Jr. In addition, federal authorities said, Fattah, 58, accepted bribes including stacks of cash, payments toward a Poconos vacation home, and college tuition for an au pair from a lobbyist seeking his help to land an ambassadorship with the Obama White House.
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