NOT CHARGED | FEDERAL MORTGAGE FRAUD – State v. Mr. B. (DMC No. 10625) (Small Business Administration Investigated): Mr. B. had obtained a loan to build four buildings for his company. When he secured the loan, he checked the “no” box when it had asked about prior felony convictions. In reality, he had a prior felony. Ultimately, the bank foreclosed on all four buildings, and over 1 million dollars was lost. The banks attorney’s indicated they would be charging Mr. B. if he did not pay back the money. We were able to work with The Small Business Administration Investigator and no charges were ever brought.
