Hartford Man Sentenced to 2 Years in Prison for Defrauding Credit Unions and Banks in Auto Loan Scheme

Marc H. Silverman, Acting United States Attorney for the District of Connecticut, announced that RONNIE BONNER, 64, of Hartford, was sentenced today by U.S. District Judge Stefan R. Underhill in Bridgeport to 24 months of imprisonment, followed by three years of supervised release, for defrauding multiple credit unions and banks through an auto loan scheme.

According to court documents and statements made in court, between September 2014 and February 2015, while working as a sales associate for an automobile dealership in Simsbury, Bonner defrauded credit unions and banks by applying for, in his name and the names of acquaintances, 19 loans to purchase motor vehicles identified with specific Vehicle Identification Numbers (“VINs”).  For most transactions, no motor vehicle was actually being purchased.  Bonner cashed or deposited the loan disbursement checks, and typically made several payments on the loan before stopping payments.  Bonner received a total of $646,351.38 in loan proceeds through this scheme.

Judge Underhill ordered Bonner to pay restitution of $395,124.40.

Bonner was arrested on November 5, 2020.  On April 27, 2023, he pleaded guilty to financial institution fraud.

Bonner, who is released on a $25,000 bond, is required to report to prison on May 7.

This matter was investigated by the U.S. Secret Service, the Connecticut Financial Crimes Task Force, the Hartford Police Department, and the Connecticut State Police.  The case was prosecuted by Assistant U.S. Attorney Hal Chen.