Mug Shot Monday — “Credit Line Millionaire” Pleads Guilty to Bank Fraud

Tags: , , , , , , , , , , ,


October 14, 2013

By Bob Coleman
Editor, Coleman Report

A seminar hustler who promised easy money to Main Street has pled guilty to bank fraud.

“Discover how to get $100k to $1 Million in business lines of credit,” screams the top banner on his website.

A tracking thermometer brags $7.5 million has been acquired by his clients.

Christopher Wise attempted to defraud Wells Fargo Bank, Union Bank and City National Bank in Southern California. One of the loan applications he filled out was approved, giving Wise a line of credit worth $175,000, according to the U.S. Attorney’s Office.

He used straw guarantors to obtain the loans, and promised a cut of the action.

The “Credit Line Millionaire” will be sentenced in January where is faces the customary, but rarely dished out 30 years in prison.

Read More

7 years ago by in . You can follow any responses to this entry through the | RSS feed. You can leave a response, or trackback from your own site.