Man expected to plead guilty Thursday to bank fraud, money laundering
June 18, 2009
Total Loss:
$27 Million
Michael Vorce, accused of defrauding banks of $27 million in loans for non-existent yachts, is expected to plead guilty Thursday to two counts of bank fraud, money laundering and failing to file an income tax return. For accepting responsibility for the crimes, Vorce could get a reduction from federal sentencing guidelines but prosecutors say a judge will have final discretion.
Source:
mlive.com
Posted in:
Account Takeover Identity Theft