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Guilty Plea Entered in Wide-Ranging Bank Fraud Conspiracy

March 03, 2021

Office Affiliation: The Office of Investigations

From the U.S. Attorney’s Office, District of Rhode Island:

PROVIDENCE – A Lawrence, MA, man, one of nine individuals indicted by a federal grand jury in Providence, RI, in July 2020, for their alleged participation in a wide-ranging conspiracy to defraud financial institutions in several states, pleaded guilty on Tuesday in U.S. District Court in Providence.

Hiancarlos Mosquea-Ramos, 28, admitted that he participated in schemes as the seller or the buyer of used vehicles, defrauding Merrimack Valley Credit Union, Sharon Credit Union, Digital Federal Credit Union, Metro Credit Union, Direct Federal Credit Union, RTN Credit Union, and Workers Credit Union.

Mosquea-Ramos admitted that by using his own personal identification information along with counterfeit earnings statements, fabricated automobile purchase and sales agreements, and counterfeit motor vehicle titles, he obtained at least $92,000 in fraudulent loans to purchase  fictitious cars. A co-conspirator, Jonathan A. Pimental, 29, of Lawrence, MA, was allegedly listed as the seller of the cars. Pimental is awaiting trial on a charge of conspiracy to commit bank fraud.

Additionally, Mosquea-Ramos admitted that he posed as the seller of various used cars. It is alleged co-conspirator Rolando E. Estrella, 33, of Lawrence, MA, prepared false purchase and sales agreements and counterfeit automobile titles naming Mosquea-Ramos as the seller of the vehicles. Financial institutions approved a total of more than $275,200 in used car loans, disbursing checks made payable to Mosquea Ramos. The checks were quickly deposited and the funds quickly withdrawn and divided among participants of the conspiracy.

Rolando E. Estrella is awaiting trial on multiple charges of conspiracy to commit bank fraud, bank fraud, aggravated identity theft, and fraudulent use of a social security number.

On Tuesday, Hiancarlos Mosquea-Ramos appeared before U.S. District Court Chief Judge John J. McConnell, Jr., and pleaded guilty to conspiracy to commit bank fraud, announced Acting United States Attorney Richard B. Myrus, Special Agent in Charge of the U.S. Secret Service Frederick J. Regan, and Scott E. Antolik, Special Agent in Charge of the Boston Field Office of the Social Security Administration, Office of the Inspector General/Office of Investigations.

Mosquea-Ramos is scheduled to be sentenced on June 1, 2020.

The cases are being prosecuted by Assistant U.S. Attorney William J. Ferland.

PROVIDENCE – A Lawrence, MA, man, one of nine individuals indicted by a federal grand jury in Providence, RI, in July 2020, for their alleged participation in a wide-ranging conspiracy to defraud financial institutions in several states, pleaded guilty on Tuesday in U.S. District Court in Providence.

Hiancarlos Mosquea-Ramos, 28, admitted that he participated in schemes as the seller or the buyer of used vehicles, defrauding Merrimack Valley Credit Union, Sharon Credit Union, Digital Federal Credit Union, Metro Credit Union, Direct Federal Credit Union, RTN Credit Union, and Workers Credit Union.

Mosquea-Ramos admitted that by using his own personal identification information along with counterfeit earnings statements, fabricated automobile purchase and sales agreements, and counterfeit motor vehicle titles, he obtained at least $92,000 in fraudulent loans to purchase  fictitious cars. A co-conspirator, Jonathan A. Pimental, 29, of Lawrence, MA, was allegedly listed as the seller of the cars. Pimental is awaiting trial on a charge of conspiracy to commit bank fraud.

Additionally, Mosquea-Ramos admitted that he posed as the seller of various used cars. It is alleged co-conspirator Rolando E. Estrella, 33, of Lawrence, MA, prepared false purchase and sales agreements and counterfeit automobile titles naming Mosquea-Ramos as the seller of the vehicles. Financial institutions approved a total of more than $275,200 in used car loans, disbursing checks made payable to Mosquea Ramos. The checks were quickly deposited and the funds quickly withdrawn and divided among participants of the conspiracy.

Rolando E. Estrella is awaiting trial on multiple charges of conspiracy to commit bank fraud, bank fraud, aggravated identity theft, and fraudulent use of a social security number.

On Tuesday, Hiancarlos Mosquea-Ramos appeared before U.S. District Court Chief Judge John J. McConnell, Jr., and pleaded guilty to conspiracy to commit bank fraud, announced Acting United States Attorney Richard B. Myrus, Special Agent in Charge of the U.S. Secret Service Frederick J. Regan, and Scott E. Antolik, Special Agent in Charge of the Boston Field Office of the Social Security Administration, Office of the Inspector General/Office of Investigations.

Mosquea-Ramos is scheduled to be sentenced on June 1, 2020.

The cases are being prosecuted by Assistant U.S. Attorney William J. Ferland.

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