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California Woman Charged For Fraud Scheme
A Nipomo, California, woman was recently arrested for allegedly being involved in a fraud conspiracy that revolved around obtaining a $1.6 million loan.
Imelda Sanchez, 39, was charged with eight counts of lying to the Internal Revenue Service, three counts of identity theft, five counts of creating fraudulent loan applications and two counts of lying to the FBI, according to Cal Coast News. She pleaded not guilty to the charges.
Sanchez also used her bogus tax returns to acquire the loan at Santa Lucia Bank.
according to the news source. In addition to giving the bank false tax information, Sanchez also sent multiple fraudulent tax returns to the IRS with several stolen identities.
If convicted of every charge, Sanchez could serve a maximum 206 years in prison and approximately $7.5 million in fines, the news source reported. She was released on $65,000 bond and will go to trial in July, in front of Judge Philip Gutierrez.
The case was investigated jointly by both the FBI and the IRS' Criminal Investigation department, the news source added.
