Greensburg Man Sentenced to Prison for Loan Fraud Scheme
PITTSBURGH, Pa. - A resident of Westmoreland County has been sentenced in federal court to two years imprisonment, to be followed by three years of supervised release, on his conviction of wire fraud, United States Attorney David J. Hickton announced today.
United States District Judge Nora Barry Fischer imposed the sentence on Thomas Lee Kemerer, 65, of Greensburg, Pa.
According to information presented to the court, during 2003, James Michael Conde and Kemerer made false statements in connection with their applications for a $1 million loan from Sky Bank and a $400,000 loan from K & K Company. The loans were supposed to be obtained for use in a business known as Precision Powdercoating & Graphics. However, Conde and Kemerer used some of the loan proceeds for their own living expenses and personal debts. Conde and Kemerer defaulted on those fraudulently acquired loans, resulting in losses of approximately $1.7 million to Sky Bank and K & K Company.
Assistant United States Attorney Shaun E. Sweeney prosecuted this case on behalf of the government.
U.S. Attorney Hickton commended the United States Postal Inspection Service for the investigation leading to the successful prosecution of Kemerer.
Protect yourself from fraud, and report suspected cases of financial fraud to local law enforcement.