Federal and International, Finance

Chief Executive of Florida-Based Financial Firm Guilty of Fraud in $179 Million Sham Loan Scheme

Chicago, IL-(ENEWSPF)- The CEO of a Florida-based financial firm has pleaded guilty to fraud charges in connection with the sale of $179 million in a sham loan scheme to a Milwaukee investment company.

NIKESH A. PATEL was the Chief Executive Officer of First Farmers Financial LLC when the company sold three fabricated loans totaling approximately $20 million to a Tennessee-based investment firm, and 26 fabricated loans to a Milwaukee investment firm for $179 million. Between November 2012 and September 2014, Patel created and assisted in creating false documents sent to the investment firms in support of these . . .

First Trustee Forum

First Mayoral Forum

Please follow & like us :)

ARCHIVES