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Justice News

Department of Justice
U.S. Attorney’s Office
Eastern District of Pennsylvania

FOR IMMEDIATE RELEASE
Thursday, August 29, 2013

Bank Employee Charged In Fraud Scheme

Horng Dai, a/k/a “James Dai,” 46, of Newtown, PA, was charged today by Indictment1 with seven counts of receipt of commissions or gifts for procuring loans, announced United States Attorney Zane David Memeger.

If convicted on all counts, the defendant faces a maximum possible sentence of 65 years imprisonment, a $2.5 million fine, not more than five years of supervised release and a $325 special assessment.

The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Linwood C. Wright, Jr.

Click here to view the indictment

1  An Indictment or Information is an accusation.  A defendant is presumed innocent unless and until proven guilty.

UNITED STATES ATTORNEY'S OFFICE, EASTERN DISTRICTof PENNSYLVANIA
Suite 1250, 615 Chestnut Street, Philadelphia, PA 19106
PATTY HARTMAN, Media Contact, 215-861-8525