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Bank Fraud

BUSINESS
August 20, 2003 | By Joseph N. DiStefano INQUIRER STAFF WRITER
Two executives of a Bensalem company that sold "Eyewear for a New Economy" were indicted by a federal grand jury last week, charged with defrauding the former First Union National Bank of $14 million and filing false reports with the Securities and Exchange Commission. Barry M. Budilov, a Lafayette Hill businessman and former chief executive officer of the former Ambassador Eyewear Group Inc., faces one count of bank fraud, six counts of false statements to a bank, two counts of false filings with the SEC, and one count of falsifying company records.
NEWS
January 4, 2001 | By Erin Carroll, INQUIRER SUBURBAN STAFF
A Mount Airy barber pleaded guilty yesterday in Montgomery County Court to participating in a sophisticated bank-fraud scheme that bilked millions from customers' accounts. Antoine Norman, 26, who prosecutors have said was the mastermind of the scam, entered an open guilty plea to a charge of conspiracy to corrupt organizations. According to Assistant District Attorney Laurel Grass, who heads the county's Economic Crimes Unit, Norman admitted that he was the "chief officer in this illegitimate company, and counterfeited checks, handed them out to runners, and received the profits.
BUSINESS
September 6, 1997 | By Joseph N. DiStefano, INQUIRER STAFF WRITER
The former chairman and chief executive of Action Federal Savings Bank in Somers Point, N.J., pleaded guilty to bank fraud yesterday, seven years after the troubled savings and loan was seized by federal regulators. Robert J. DiDomenico, of Springfield, Delaware County, and Ocean City, N.J., faces up to 20 years in prison and a fine of up to $1 million for failing to disclose a secret deal to use $4.2 million in bank loans, made to a friend, to buy property for himself. DiDomenico, 53, was a well-known Jersey Shore developer and had been on Action's board for two years when he was named its full-time chief executive in 1990.
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
January 21, 2012 | By Martha Woodall, Inquirer Staff Writer
The former chief executive officer of a charter school in Northwest Philadelphia pleaded guilty Friday to stealing more than $500,000 in taxpayer funds intended for the school. Ina M. Walker, the onetime top official of New Media Technology Charter School, appeared Friday afternoon in U.S. District Court and told Judge Jan E. DuBois that she wanted to change her plea to guilty to theft and fraud charges. In her plea agreement, Walker, 59, of West Mount Airy, admitted to all 28 counts, including conspiracy, wire fraud, theft from a federally funded program, and bank fraud.
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
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
April 19, 2015 | By Robert Moran, Inquirer Staff Writer
A 34-year-old woman who defrauded women with the ruse of a fictitious hair show to pay for plastic surgery, apartment rent, a car loan, and Walmart shopping sprees was sentenced Friday in federal court in Philadelphia to 15 months in prison. Tamira Fonville of New York, and conspirator Ricardo Falana of Philadelphia deposited fraudulent checks in banks in the Philadelphia area, prosecutors said. Fonville pleaded guilty in September to conspiracy to commit bank fraud and three counts of bank fraud.
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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