Caldwell Resident Indicted for Bank Fraud and Bankruptcy Fraud
BOISE – Shawna Lea Pennington, 39, of Caldwell, Idaho, was indicted by a federal grand jury in Boise on September 13 for bank fraud, mail fraud, wire fraud, bankruptcy fraud, false declarations, and falsification of records in a bankruptcy, U.S. Attorney Wendy J. Olson announced. Pennington made her initial appearance today in United States District Court in Boise. She pled not guilty to the charges. The court set a jury trial for November 22, 2011, before U.S. District Judge Edward J. Lodge at the federal courthouse in Boise.
The eleven count indictment alleges that between March and October 2010, Pennington devised a scheme to defraud various financial institutions and a private lender. The indictment further alleges that as a result of the scheme, Pennington fraudulently obtained money and property valued at approximately $68,000.
The indictment alleges that Pennington committed various offenses in relation to a bankruptcy petition that she filed in December 2010, including intentionally omitting material facts from her bankruptcy schedules and fraudulently transferring assets of the bankruptcy estate.
The charge of bank fraud is punishable by up to 30 years in prison, a maximum fine of $1 million, and up to five years of supervised release. The charges of falsification of records in bankruptcy, mail and wire fraud are each punishable by up to 20 years in prison, a maximum fine of $250,000, and up to three years of supervised release. The charged bankruptcy crimes are each punishable by up to five years in prison, a maximum fine of $250,000, and up to three years of supervised release.
The case was investigated by the Nampa Police Department. The Idaho Attorney General's Office and the United States Trustee Program are assisting the U.S. Attorney's Office in the prosecution of the case.
An indictment is a means of charging a person with criminal activity. It is not evidence. The person is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
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