February 4, 1994 |
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.
November 24, 1989 |
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.
September 11, 1986 |
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.
June 9, 2000 |
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.
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
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.
December 20, 2002 |
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.
May 22, 1992 |
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.