Bank manager sentenced in mortgage fraud
December 14, 2010
Total Loss:
$608,501
A former Citizens Bank branch manager who provided false documents underlying mortgages will get home confinement and probation, U.S. District Judge Nora Barry Fischer decided today. Crystal Spreng, 40, of Cabot, ran the Bloomfield branch for Citizens Bank, and won a manager of the year award in 2006, according to court filings. But from 2005 through 2007, according to a June 2009 indictment, she was a bit player in a mortgage fraud ring run by broker Robert Arakelian, who has pleaded guilty but has not yet been sentenced.
Source:
Pittsburgh Gazette
Posted in:
Internal Fraud