Posts Tagged ‘Loan Broker Fraud’
Fraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud
June 14, 2019 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA Loan Broker Jailed for 9 Years in $100 Million 7(a) Loan Fraud “Our financial system is based on trust,” says U.S. Attorney Robert K. Hur. “Loren Park and his co-conspirators lied during every aspect of the loan process, cheating taxpayers and lenders,…
Read MoreMug Shot Monday – Small Business Loan Broker Gets 18 Years
March 31, 2014 By Bob Coleman Editor, Coleman Report As the credit markets dried up in 2008, a Philadelphia loan broker pocketed a cool $1 million a year from ripping off 2,000 business owners in up front loan fees. Now, Andrew Bogdanoff will be spending 18 years and four months in jail saying, “Greed and…
Read More