Two brothers pleaded guilty to bank fraud
December 17, 2009
Total Loss:
$2 million
Two Tomah car dealers pleaded guilty in federal court Tuesday with defrauding banks of more than two million dollars. Court records show 57-year-old Timothy E. Vernier and 63-year-old Stephen N. Vernier spent almost five years working on a loan scheme to defraud two banks in Tomah. Investigators say the Verniers operated a dealership known as Norris-Vernier Motor Sales and made false statements to the local banks to secure the loans. They will be sentenced in early March.
Source:
WEAU-13
Posted in:
Check Fraud