Mug Shot Monday – Telling a Lender a Lie is a Crime
A New York LDC made a $50,000 micro loan to the owner of a small computer company. After repaying about $3,000 the company defaulted on the loan and bankruptcy soon followed.
The problem, according district attorney, is in the the perp claimed the business was making $10,000 a month profit when the loan was made, but had just said the company was “insolvent” and “no longer a viable business” in an unrelated court proceeding.
John Mikalinis is charged with two felonies for providing false information to the Warren County Local Development Company.