Allentown Man Charged With Fraud Scheme Involving Four Banks
Coi Nguyen, 44, of Allentown, Pennsylvania was charged today by indictment with four counts of bank fraud and two counts of bankruptcy fraud arising from a scheme to defraud four banks of more than $127,000, announced United States Attorney Zane David Memeger.
According to the indictment, between March 2003 and July 2009, Nguyen obtained lines of credit and credit card accounts with Bank of America, JP Morgan Chase, Citizens Bank, and State Farm Bank. During a several month period in 2009, he incurred large charges on his credit card accounts, and withdrew large sums of money from his lines of credit. He “refreshed” the credit in these accounts with checks and electronic payments made from accounts with insufficient funds. The total amount of fraud on all four banks is $127,942.35. It is further alleged that Nguyen tried to conceal his fraud scheme by filing for bankruptcy.
If convicted the defendant faces a maximum possible sentence of 130 years imprisonment, three years supervised release, a fine of $4.5 million, and a $600 special assessment.
The case was investigated by the United States Secret Service and is being prosecuted by Assistant United States Attorney Mark B. Dubnoff
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