Roanoke man pleads guilty to bank fraud
August 16, 2011
Total Loss:
$70,000
A Roanoke businessman racked up $70,000 in debt during a monthlong credit card "bust out," making fresh charges on overdrawn accounts after small payments temporarily unfroze them, an FBI agent testified Monday.
Ahmad Abedallah Al-Mikdadi, 42, pleaded guilty in U.S. District Court in Roanoke to charges of bank fraud, wire fraud and making a false statement to a financial institution. Each charge carries a maximum of 30 years in prison and a $1 million fine, although sentencing guidelines that will be calculated before Al-Mikdadi's Oct. 28 sentencing will probably recommend less.
Source:
Roanoke News
Posted in:
ACH and Wire Fraud
Credit Card Fraud