President Of Bankrupt Fuel Oil Company Pleads Guilty To Bank Fraud
May 26, 2011
Total Loss:
$2 Million
The president of a home heating oil business whose bankruptcy cost customers millions of dollars in prepaid contracts pleaded guilty in federal court Tuesday to taking millions more in fraudulent loans from the company's banker.
Christopher T. Carr, 55, former president of the Waterbury-based F&S Oil, pleaded guilty in Hartford to a single count of bank fraud for overstating company receivables to collect what federal prosecutors said was from $2.5 million to $7 million on three lines of credit.
Source:
Hartford Courant
Posted in:
Internal Fraud