Multiple Texas Banks Suffer at Least $10,000,000+ in Losses After Lending Intermediary Uses Forgeries To Obtain Loans for Customers

A Dallas loan broker received a 58-month prison sentence and must pay $8.3 million restitution after pleading guilty to conspiracy to commit bank fraud. The scheme used fabricated documents to obtain at least $10 million in fraudulent loans from 2014 to 2016, causing losses to multiple Texas banks.