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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
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.
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
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
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
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
October 30, 1992 | By George Anastasia and David Johnston, INQUIRER STAFF WRITERS
Former Atlantic City high roller Robert Libutti, banned from the casinos because he used racial slurs and bragged of his ties to mobster John Gotti, was indicted yesterday on bank fraud and income-tax evasion charges. The indictment, announced by U.S. Attorney Michael Chertoff, alleges that Libutti, 62, collected $3.4 million in improperly authorized loans from a North Jersey bank between 1985 and 1987. He was also charged with evading $3 million in income tax and with weapons offenses.
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.
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