Federal Grand Jury in El Paso Indicts Seven in Bank Fraud Scheme
In El Paso today, a federal grand jury indicted seven individuals for allegedly defrauding multiple local banks and credit unions through applications for at least $237,000 in personal loans and lines of credit announced United States Attorney Richard L. Durbin, Jr., and Federal Bureau of Investigation Special Agent in Charge Douglas E. Lindquist, El Paso Division.
The 16–count indictment charges 38–year-old former Michael Nedal Annabi of Santa Teresa, NM; his wife, 33-year-old Perla Maldonado Annabi; 33-year-old Basem Elgelda of Petaluma, CA; 25-year-old Terrance Yelder of El Paso; 29-year-old Miguel Munoz of Santa Teresa, NM; 23-year-old Jenzel Nash of El Paso; and, 20-year-old Daniel Munoz of Santa Teresa, NM, with one count of conspiracy to commit bank fraud. Michael Annabi and Basem Elgelda are also charged with four; Terrance Yelder and Jenzel Nash, with two; and, Perla Annabi, Miguel Munoz and Daniel Munoz with one, substantive counts of false statement on loan or credit application.
According to the indictment, the defendants conspired from July 31, 2013, to March 22, 2016, to defraud 21 financial institutions nationwide in connection with a loan scheme. Throughout the scheme the defendants would obtain loans and lines of credit after providing the financial institutions with fraudulent personal and income information.
Upon conviction, each charge calls for up to 30 years in federal prison.
This case was investigated by the Federal Bureau of Investigation with assistance from the El Paso Police Department. Assistant United States Attorneys Rifian S. Newaz and Debra Kanof are prosecuting this case on behalf of the Government.