In South Carolina, the
Rock Hill Herald reports:
- "A Rock Hill man has pleaded guilty to defrauding a bank out of $4.5 million, according to the U.S. Attorney’s Office. Kyle Wimmer ... pleaded guilty to bank fraud and money laundering during a hearing Tuesday... . "
The scam involved using false information on loan applications and inflated appraisals to induce a BB&T branch in South Carolina to loan more money than they ordinarily would. About 100 loans were taken out, but many went into default, ultimately costing the bank about $4.5 million. For more, see
Rock Hill man pleads guilty to $4.5M in bank fraud (if link expires,
try here).
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