Credit Union Memberâs Loan Scheme Lands Him in Jail
If you canât get approved for a loan large enough to meet the needs of your small business, why not just have your employees and friends submit falsified loan applications to make up the shortfall? Because that can land you in jail. A member of Bell Community Credit Union is now facing three years in federal prison for bank fraud for making 15 false loan applications over a period of 14 months and has been ordered to pay restitution in the amount of $207,116. [3/11/16]
