Sixth Defendant Admits to Role in Bank Fraud Conspiracy | USAO-RI

PROVIDENCE, RI – A man from Haverhill, MA, is today the sixth defendant to admit his role in a far-reaching program to defraud financial institutions in multiple states for more than $ 2.4 million by taking out auto loans using auto loans US Attorney Zachary A. Cunha said he is trying to obtain and obtain these stolen personal identification information from others and fraudulent documents.

Fernando Diaz, 34, pleaded guilty to bank fraud conspiracy in the Providence District Court.

Diaz admitted that in December 2017 he used the stolen identity of a Connecticut resident to apply for and obtain a $ 50,000 personal loan from an online financial company. The proceeds were deposited into a TD bank account opened using the same stolen identity. Diaz and others withdrew the money from the TD Bank account.

Additionally, Diaz admitted that in June 2019 he filed online applications for used car loans of $ 35,000, $ 35,574, and $ 36,000, falsely pretending to buy a 2016 Porsche Cayenne each time want. Each filing was accompanied by forged documents created by one or more members of the conspiracy, including a fraudulent Massachusetts Automobile Title and a fraudulent sales contract.

Diaz is the sixth person convicted by the Providence District Court for her role in the system. Among the defendants awaiting conviction is a Massachusetts used car dealer, Roland E. Estrella, 33, of Dracut, MA, who admitted to being the leader of the conspiracy.

Estrella is due to be sentenced on March 24, 2022. Diaz is due to be sentenced on April 5, 2022.

The case is being prosecuted by Assistant Attorney General William J. Ferland.

The investigation into the Northeast-wide fraud ring was conducted by the Inspector General’s Social Security Bureau and the United States Intelligence Service.

###

Leave a Comment

Your email address will not be published. Required fields are marked *