Man enters guilty plea in bank fraud case
February 26, 2010
Total Loss:
$12.4 million
A Maryland businessman pleaded guilty Monday in federal court to a financial scheme that defrauded two Baltimore banks out of millions, ruined his check-cashing company and contributed to his older brother's suicide. Brian I. Satisky, 56, faces up to 30 years in prison at his sentencing and a $1 million fine for his role, which involved writing bad checks to various banks to falsely inflate the account balances. Prosecutors also plan to ask that he pay restitution to the banks he defrauded: $1.8 million to Carrollton Bank and $10.6 million to Baltimore County Savings Bank.
Source:
Baltimore Sun
Posted in:
Check Fraud