Frank A. Rubino , ESQ.

FEDERAL AND INTERNATIONAL CRIMINAL DEFENSE

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Florida Man Sentenced For Fraud Involving Business Loans

Authorities can be very aggressive in their pursuit of fraud-related crimes. A lot media attention in Florida is given to the enforcement of real estate and health care fraud, because these are crimes that are seen as being particularly prevalent in this region.

However, other types of fraud offenses also receive vigorous enforcement from state and federal authorities. This can be seen in a Florida fraud case, where a man was recently sentenced to serve three years in federal prison.

The case involved a 29-year-old man from Miami, Florida. The man was a former loan officer. The man was supposedly involved in a fraud scheme with two other individuals. The scheme reportedly involved business loans. The three supposedly would obtain loans for businesses in exchange for a fee. The group allegedly used fraudulent documents in order to attain these loans from a bank.

The alleged scheme occurred from 2005 to 2008 and involved 25 loans. The scheme reportedly involved over twelve million dollars.

The former loan officer was charged in connection to this alleged bank fraud. Earlier this month, he was sentenced to serve three years in prison and over two years of subsequent home confinement in relation to these charges.

This case demonstrates one of the many types of fraud crimes which federal and state authorities will aggressively investigate and prosecute. This aggressive enforcement could have many potential effects on a person accused of a fraud crime. As was demonstrated in this case, if being charged of a white collar crime like bank fraud results in a conviction, serious consequences will likely follow.

Source: South Florida Business Journal, "Former loan officer sentenced in fraud case," 7 Jan 2011

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