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Bank Fraud

January 30, 2013 | By Marisa Gerber
For years Diane Hathaway sat behind the dais as a Michigan Supreme Court justice. This time, she was the defendant. Hathaway, who has resigned from the bench, pleaded guilty to bank fraud during a federal court hearing Tuesday in Ann Arbor. As part of her plea agreement with the U.S. attorney's office , Hathaway faces a year and a half in prison for concealing information from her bank. Sentencing was set for May 28.  The case stems from 2010, when Hathaway entered into debt forgiveness negotiations with ING Bank for her home in Grosse Pointe, a Detroit suburb.
April 2, 2014 | By Chris Foster
A former agent said he paid former UCLA basketball standout Tyler Honeycutt and his mother in the hopes of securing him as a client. Noah Lookofsky told SB Nation that he doled out $55,800 during a three-year relationship with Honeycutt, starting when he was a player at Sylmar High. He provided SB Nation with copies of receipts, deposit slips, promissory notes, travel itineraries, email exchanges and a deposited check to support his claim. That included paying rent and travel expenses for Lisa Stazel, Honeycutt's mother.
April 18, 1994 | PHYLLIS W. JORDAN
A Beverly Hills man whose bad checks cost Ventura County-based Bank of A. Levy $212,000 received a two-year federal prison sentence last week for writing checks on a nonexistent bank account at a nonexistent bank. David Alan Wolfson, 38, was also ordered to repay $30,000 in the sentence handed down Friday by U. S. District Judge John G. Davies in Los Angeles. The bank fraud case dates to 1989, when Wolfson agreed to invest in a business venture with a Camarillo man, Stuart J.
March 27, 2014 | By Nathan Fenno
A federal judge sentenced the father of former UCLA basketball player Shabazz Muhammad to 37 months in prison Thursday, according to the U.S. Attorney's Office in Las Vegas. Ron Holmes pleaded guilty in December in U.S. District Court in Las Vegas to one count of conspiracy to commit bank fraud, mail fraud and wire fraud in connection with a $2.5-million mortgage fraud scheme. Holmes, who played basketball at USC from 1981 to 1985, was also sentenced to five years of supervised release and must pay $1.7 million in restitution.
November 16, 1989
A man accused of charming women to defraud a bank of $63,500 has pleaded guilty to five federal charges of bank fraud. Chester Doc Moore, 30, lived in hotels on the proceeds of the worthless checks that he deposited into the accounts of girlfriends, said Assistant U.S. Atty. Greg Schetina. "He would befriend women and date them and get their confidence and started depositing in their accounts checks from a company that had closed," Schetina said of Moore, who was arrested Aug.
April 22, 2005 | From Bloomberg News
Former Enron Corp. Chairman Kenneth L. Lay won't have to stand trial on bank fraud charges before he is tried in the larger fraud and conspiracy case stemming from Enron's collapse. U.S. District Judge Sim Lake in Houston granted Lay's request to schedule the bank fraud trial during deliberations in the broader case, which is scheduled to start in January. Lay's lawyer said an early trial on the banking charges would increase the risk of juror bias in the larger case.
August 28, 1998 | From Times Wire Reports
Former Miami City Commissioner Humberto Hernandez, once one of the most powerful municipal politicians in south Florida, pleaded guilty to a federal bank fraud charge. Earlier, a state judge sentenced Hernandez to 364 days in jail for trying to cover up voting fraud. Hernandez, a central figure in a series of scandals at City Hall, was a rising star on the Miami political scene and overwhelmingly reelected even while under indictment.
January 13, 1993 | JAMES MAIELLA JR.
A Las Vegas man who used a boat he didn't own as collateral for a $137,000 loan from Simi Valley Bank has been sentenced to eight months in federal prison, officials said. Donald F. Ford, 56, was sentenced by U. S. District Judge Spencer Letts in Los Angeles. Ford, who will be on probation for three years after his release from prison, appeared before Letts in October and pleaded guilty to one count of bank fraud, said Gary Auer, supervisor of the Ventura County office of the FBI.
February 2, 1990
With the appointment of Assistant U.S. Atty. Nancy Wieben Stock to the Orange County Superior Court, the bank-fraud trial of Janet Faye McKinzie is being delayed to Wednesday in U.S. District Court in Santa Ana. Wieben Stock is being replaced in the McKinzie trial by Assistant U.S. Attys. Paul L. Seave and David J. Schindler.
Two former officials at the Bank of San Pedro and a lawyer were convicted Wednesday of defrauding the bank out of $2.3 million in a scheme that contributed to the financial institution's failure.
February 5, 2014 | By Stuart Pfeifer
FBI agents arrested the owners of a now-closed Southern California real estate investment firm for allegedly using the business to run a Ponzi scheme in which victims lost more than $110 million. John Packard, 63, of Long Beach and Michael Stewart, 66, of Phoenix were indicted in January by a federal grand jury on 11 counts of mail fraud, three counts of bank fraud and two counts of bankruptcy fraud. They are accused of using new investor money to make payments to early investors, while pulling out millions of dollars for themselves, as their company, Pacific Property Assets, headed to bankruptcy.
August 16, 2013
Bert Lance Budget director under President Carter Bert Lance, 82, a Georgia banker and ally of former President Carter who served as his first budget director before departing amid a high-profile investigation of his banking activities, died Thursday at his home in northwest Georgia, Gordon County deputy coroner Heath Derryberry said. Lance had struggled recently with unspecified health problems, though authorities were unsure of his cause of death. Lance, a bear of a man with thick black hair, a rubbery neck and a distinctive drawl, was a self-described "country banker" who had served as state highway commissioner from 1971 to 1973, when Carter was Georgia governor, and also headed the National Bank of Georgia.
July 16, 2013 | By Ben Bolch
LAS VEGAS - Shabazz Muhammad rivaled any attraction along the Strip here two years ago. Fans and college coaches followed him en masse from one gym to another during a summer club tournament, fawning over every shot and slick move made by the player who was then the nation's top high school recruit. Back in his hometown this week, Muhammad has been indistinguishable from many other rookies and longshot hopefuls trying to prove they belong in the NBA. The Minnesota Timberwolves swingman had another nondescript showing Tuesday during his team's 80-71 victory over the Miami Heat at Cox Pavilion in the Las Vegas Summer League, scoring seven points with one assist and three turnovers.
June 2, 2013 | By Chris Foster
Shabazz Muhammad 's stock in the NBA draft has tumbled. His father was charged with bank fraud and conspiracy to commit fraud. Oh, and he's still 20 years old. Time to take to the air. Appearing Friday on Jim Rome's radio show , Muhammad discussed ... His dad: “I wasn't really familiar with what happened. I haven't talked to him. I mean, I'm always there for my dad.” His season at UCLA: “There was some stuff that I wasn't really comfortable with. It wasn't a really up-tempo style of play, but I really enjoyed playing there.
June 1, 2013 | By Chris Foster
Ron Holmes, father of former UCLA basketball standout Shabazz Muhammad, was put under house arrest by a federal magistrate Friday. Holmes pleaded not guilty to bank fraud and conspiracy charges. He is alleged to have used phony information and straw buyers to obtain and sell homes in the Las Vegas area. The indictment alleged that he took in more than $2.5 million. Holmes will be required to wear a GPS monitor, though he will be allowed to leave the house to coach Asia Muhammad, his daughter who is a professional tennis player, and athletes at a Las Vegas high school.
May 30, 2013 | By Ken Bensinger, Los Angeles Times
Ronald Holmes, father of former UCLA basketball star Shabazz Muhammad and himself a former hoops standout, has been indicted on federal fraud charges. Holmes, 51, was detained Thursday in Las Vegas. He has pleaded not guilty to bank fraud, as well as counts for conspiracy to commit mail fraud, wire fraud and bank fraud. According to the indictment, which was unsealed Thursday, Holmes and several unnamed associates used fraudulent information and straw buyers to obtain home mortgages and buy and sell houses, keeping the proceeds for themselves.
April 23, 1994 | MARY F. POLS
A federal grand jury has brought additional charges against a Ventura man accused of conspiring to swindle several banks and private investors out of nearly $3 million, the FBI reported Friday. Patrick Michael Downey, 42, will face nine felony counts for his alleged involvement in a real estate scheme that began in October, 1989, and continued until June, 1992, under a new indictment handed up Thursday.
May 10, 2013 | By Adolfo Flores
A father and son were arrested Thursday in connection with separate fraud schemes -- one of them a shakedown that targeted small businesses -- moments before boarding a Russia-bound plane. Viktor Ryzhkin, 45, and his son Evgenii Ryzhkin, 22, of Los Angeles were arrested as they prepared to board a plane to Moscow with two other family members at Los Angeles International Airport. The pair face federal fraud charges for separate alleged crimes, according to the U.S. attorney's office.
April 16, 2013 | Bloomberg News
Full Tilt Poker founder Raymond Bitar, accused of using online player funds to finance his company in what prosecutors called a Ponzi scheme, pleaded guilty but was spared from serving time in prison because he needs a heart transplant. U.S. District Judge Loretta Preska on Monday approved a plea agreement between Bitar, 41, and prosecutors, sentencing him to the seven days he served in jail last year, after saying a prison sentence would kill him. Bitar, who participated in a hearing in Manhattan federal court by video link from Los Angeles, near his home, pleaded guilty to two felonies that carry a maximum sentence of 35 years in prison.
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