New Jersey Man Pleads Guilty in Bank Fraud Scheme

Thursday, November 10, 2011
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A New Jersey man admitted his role in a bank fraud scheme in which he used unlawfully obtained Social Security numbers to obtain credit cards and mortgages, causing four banks to lose a total of approximately $1 million. The man pled guilty before U.S. District Judge José L. Linares in Newark federal court to an Information charging him with one count of bank fraud. The bank fraud charge carries a maximum penalty of 30 years in prison and a fine of $1 million. Sentencing before Judge Linares is scheduled for Feb.15, 2012.