December 30, 2013
By Bob Coleman
Editor, Coleman Report
The owner of a medical equipment sales firm pledged millions of dollars in securities, as well as the medical equipment, as collateral.
Problem is, the collateral doesn’t exist.
Writes the FBI, “According to court documents, Filmore was a borrower from Pulaski Bank and had at least 15 outstanding loans with a total balance owed of more than $6 million by late 2013. Most of these loans are held in the name of Filmore’s company, Healthcare Partners Group LLC. Over the course of Filmore’s relationship with Pulaski, which spanned many years, it was Pulaski’s understanding that he was engaged in the brokerage of medical equipment. Filmore often needed to finance the acquisition of equipment, which he sold and leased to his customers.
“On November 1, 2013, Pulaski personnel determined that purchase order and account information associated with a new loan was suspicious. Further investigation by the bank revealed fictitious information had been submitted to the bank. Discovering these discrepancies, Pulaski canceled the wire transfer of funds and reported the matter to authorities. A criminal complaint was filed against Filmore in federal court on November 16, 2013.”
Our perp faces the obligatory 30 years in prison and $1 million in fines at his sentencing hearing in March.