NC Man Facing Felony Charges for Phantom Loan Fraud

Allegedly Defrauded Credit Union for $198,000 Boat Loan

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Tallahassee, FL – March 13, 2026 – With all of the recent arrests for loan fraud in Florida over the past year, one thing is becoming clear; fraud has no safe harbor in the Sunshine State. The most recent person to find this out is a 46-year-old man from North Carolina.

The Florida Department of Law Enforcement (FDLE) has arrested 46-year-old Keith Sanders of Raleigh, North Carolina, charging him with one count of grand theft (a first-degree felony) and one count of scheme to defraud a financial institution (a second-degree felony).

NC Man Facing Felony Charges for Phantom Loan Fraud — Keith Sanders, 46

The investigation launched on November 4, 2025, after the Perry Police Department alerted FDLE agents that Sanders had submitted a falsified loan application to Blue Coast Federal Credit Union seeking more than $198,000. He later defaulted on the loan.

During the application process, Sanders falsely claimed residency in Panama City and employment in Tallahassee. He also submitted a fraudulent title for a nonexistent boat as collateral or supporting documentation.

“Manipulating Florida’s financial institutions affects our citizens statewide. Scheming a loan program out of tens of thousands of dollars will not be tolerated in the law-and-order State of Florida,” said FDLE Tallahassee Special Agent in Charge Keith Wilmer. “In financial crime investigations, our agents and analysts work diligently and sift through countless financial documents to hold these individuals accountable.”

FDLE secured an arrest warrant, and Sanders surrendered at the Taylor County Jail on February 23, 2026.

Perry Police Chief Jamie Cruse praised the collaboration: “The men and women of the Perry Police Department proudly worked with FDLE to bring Mr. Sanders to justice. We continue to work with our partners at FDLE and all law enforcement agencies to protect our citizens against individuals taking advantage of our financial assistance programs.”

Assistance in the investigation came from the Taylor County Sheriff’s Office and the North Carolina State Bureau of Investigation. The case is being prosecuted by the State Attorney’s Office of the Third Judicial Circuit, and the investigation remains active.

Source: West Orlando News.com