News and Press Releases

FOR IMMEDIATE RELEASE:

THURSDAY - October 9, 2008

RALEIGH - United States Attorney George E.B. Holding announced that in federal court here on October 6, 2007 WILLIAM MONTELLE LOYD, III, before United States District Judge James C. Dever, III, to conspiracy to commit mail fraud and wire fraud, in violation of Title 18, United States Code, Section 371, and aggravated identity theft, in violation of Title 18, United States Code, Section 1028A.

A Federal Grand Jury returned a Criminal Indictment on June 4, 2008. From November, 2002, through December, 2006, LOYD, entered into a conspiracy with Elizabeth W. Clement and Kelly Anne Spaulding to obtain 16 loans from E-Loan worth approximately $2.6 million by submitting false documentation regarding employment, salary, appraisals, and tax information during the course of securing the loans.

The investigation revealed that LOYD utilized his father’s and his brother’s identities and social security numbers to obtain loans in their names without their authorization or knowledge.

The maximum penalty for the charge of wire fraud conspiracy is up to five years imprisonment followed by three years of supervised release and a fine of up to $250,000. For aggravated identity theft, the maximum penalty LOYD faces is two years consecutive to any other sentence imposed followed by one year of supervised release and a fine of up to $250,000.

Investigation of the case was conducted by the Federal Bureau of Investigation. Assistant United States Attorney Felice McConnell Corpening served as prosecutor for the government.

 

News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.

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