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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
August 7, 2016
A 24-year-old Philadelphia man was sentenced Friday to 4 1/2 years in federal prison on fraud and theft charges. Aaron Dashawn Caple pleaded guilty in April before U.S. District Judge Eduardo Robreno to charges of bank fraud and aggravated identity theft. He admitted using social media - specifically Twitter and Facebook - to solicit people to provide him with their bank ATM cards and PIN numbers so he could deposit bad checks into their accounts and withdraw the funds before the banks and other financial institutions realized the checks were bad, the U.S. Attorney's Office in Philadelphia said in a statement.
NEWS
July 18, 2016 | By Chris Mondics, Staff Writer
A 45-year-old Newtown Square man with a taste for luxury has been indicted by a federal grand jury in Philadelphia for defrauding banks and homeowners out of $13 million in a series of mortgage-finance schemes to pay for his lavish lifestyle. George Barnard was charged with 24 counts of wire fraud, four counts of bank fraud, and three counts of filing a false tax return. The indictment charges that Barnard, one of two owners of Capital Financial Mortgage Corp., from 2005 through 2013 refinanced mortgages for clients, but instead of using the money to pay off existing loans and fund new mortgages, kept it for himself.
NEWS
June 30, 2016 | By Chris Brennan, Staff Writer
Josh Shapiro, the Montgomery County commissioners chairman and Democratic nominee for state attorney general, saw the political hit coming. Shapiro had received $11,500 in campaign contributions in the last decade from Herbert Vederman, the lobbyist and former Philadelphia deputy mayor who was convicted last week on federal racketeering, bribery, and bank fraud charges along with former U.S. Rep. Chaka Fattah. The Republican Attorneys General Association on Tuesday called on Shapiro to return the $5,000 he received from Vederman in March 2015.
NEWS
May 11, 2016 | By Jessica Parks, Staff Writer
A Philadelphia man has been charged with using his job at TD Bank to open fraudulent accounts, steal customer information, and process counterfeit checks, according to a federal indictment unsealed Monday. Michael Tuffour, 27, was charged last month with one count of bank fraud and three counts of aggravated identity theft. Tuffour was a customer-service representative at the TD Bank on City Avenue. From July 2011 to April 2013, prosecutors say, he accessed customers' accounts and sold their information - including names, account numbers, birth dates, Social Security numbers, and copies of their driver's licenses.
NEWS
May 8, 2016
Woman dies in Deptford hit-and-run A woman who crashed her car into a tree on Route 55 in Deptford was killed when she was struck by another vehicle after getting out of her damaged sedan and walking on the highway in the rain Friday morning, police said. The vehicle that hit the woman did not remain at the scene. The initial crash happened about 5:40 a.m., when the woman's Kia Opirus veered off the highway after entering Route 55 from Route 42. The woman then got out of her car and the hit-and-run happened shortly afterward, police said.
NEWS
May 8, 2016
A federal judge in Trenton on Friday sentenced a 34-year-old Philadelphia woman to 40 months in federal prison for her role in a massive credit-card fraud scheme, prosecutor said. Vernina Adams, 34, pleaded guilty before U.S. District Judge Anne E. Thompson to one count of conspiracy to commit bank fraud. She was charged in 2013, and since then 18 others have pleaded guilty in connection with the conspiracy to fabricate more than 7,000 false identities and obtain tens of thousands of credit cards.
NEWS
April 28, 2016 | By Chris Brennan, Jeremy Roebuck, and Claudia Vargas, STAFF WRITERS
Chaka Fattah, a fixture in Philadelphia politics for three decades, was ousted from the Second Congressional District seat by State Rep. Dwight Evans in Tuesday's Democratic primary. Fattah's fall came 20 days before the start of his federal criminal trial, an impending peril he tried to downplay as he campaigned for a 12th term. Fattah conceded just after 10 p.m. He stuck to the twin themes of his campaign - his long record of bringing resources to the district, and his complaint that the media did not give those accomplishments attention.
NEWS
April 27, 2016
A 37-year-old Delaware County man was sentenced Monday to 12 years in prison for his role in a scheme that stole or attempted to steal $1.1 million from banks through identity theft, federal prosecutors said. Benjamin Easley, of Upper Darby, pleaded guilty in 2014 to seven counts of bank fraud, 15 counts of aggravated identity theft, and one count of conspiracy. He also pleaded guilty to two counts of bank fraud and one count of aggravated identity theft in a separate case that was consolidated for his sentencing.
NEWS
March 30, 2016 | By Chris Palmer, Staff Writer
A prominent Delaware real estate developer pleaded guilty Monday to bank fraud and violating the federal Clean Water Act during construction of a New Castle housing development, according to the U.S. Attorney's Office in Wilmington. Joseph L. Capano Sr., 74, admitted in U.S. District Court in Wilmington to using more than $146,000 from loans for the Riverbend at Old New Castle project to fund personal expenses, including buying $63,000 worth of jewelry, prosecutors said Monday.
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