Newark, NJ – Tuesday, December 17, 2019 – A Bronx, New York, man today admitted participating in a conspiracy to carry out a $3.5 million scheme to use bogus information and simultaneous loan applications at multiple banks to fraudulently obtain home equity lines of credit, a practice known as “shotgunning,” U.S. Attorney Craig Carpenito announced.
More Stories
He Bought Their Identities. Then He Bought the Cars
Catch Me If You Can: Inside the Gingerbread Man Auto-Fraud Enterprise
Same FICO, Different Risk: Geography Emerges in Auto Loan Delinquencies
All Loan and No Cattle
Regulators Clarify What Credit Unions Can Tell Members About Suspicious Activity
$3.3 Million for Credit Union CEO Luxury and Only $1.7 Million for 33 Employees