Dunmore Man Sentenced To 16 Months’ Imprisonment For Bank Fraud

SCRANTON – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Eric R. Colborn, age 46, of Dunmore, Pennsylvania, was sentenced on April 14, 2021, to 16 months’ imprisonment to be followed by a three-year term of supervised release by U.S. District Court Judge Robert D. Mariani for bank fraud.  Judge Mariani also ordered Colborn to pay restitution in the amount of $22,470.40.

According to Acting United States Attorney Bruce D. Brandler, Colborn previously entered guilty pleas on January 15, 2020 to bank fraud and conspiracy to commit bank fraud. 

Colborn created a counterfeit Wells Fargo brokerage statement in his name showing that he had in excess of $14,000,000 in a brokerage account, and then fraudulently induced reliance on the counterfeit brokerage statement to secure property and other things of value.  One such example occurred when Colborn admittedly issued a bad check to a local realtor in the amount of $2,000 for a down payment toward the purchase of a residence in Dunmore, Pennsylvania with a promise of paying $190,000 in cash at closing.  The realtor subsequently contacted Wells Fargo and learned that the brokerage account did not exist.

Beginning in November 2017 through March 2019, Colborn admitted to unlawfully issuing a series of bad checks totaling more than $400,000 in order to obtain property.  For example, in November 2017, Colborn issued a bad check in the amount of $58,786.54 to Motor World in order to take possession of a Range Rover.  In that same month, Colborn issued a bad check in the amount of $68,416.70 to Gibbon’s Ford in order take possession of a 2018 Ford F-150 pick-up truck.  In January 2019, Colborn issued a bad check in the amount of $95,682.48 to Ken Pollock Alfa Romero in order take possession of an Alfa Romero vehicle. The vehicles were subsequently repossessed.  Colborn’s fraud scheme also included a series of bad checks issued to local retailers for thousands of dollars, including Home Depot, RJ Walker, Dick’s Sporting Goods and Auto Zone.

The case was investigated by the Internal Revenue Service – Scranton Office, the Dunmore Police Department, and the Lackawanna County District Attorney’s Office.  Assistant U.S. Attorney Michelle Olshefski prosecuted the case.

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