DENVER — An Aurora man was sentenced last week to 7 years in prison and 5 years on supervised release for bank fraud.
Alan Alonzo Williams, 56, was ordered to pay more than $1 million in restitution to the lenders he defrauded, according to a news release from the U.S. District Attorney’s office.
Williams had a previous felony conviction, so was unable to apply for loans for the company he and his parents established that sold, leased, repaired and operated vending machines, according to the release.
He falsely claimed another person was the president of the company, and used her name to apply for loans, also falsely claiming that she had a substantial salary and assets so the loans would be approved. According to the release, Williams also exploited her drug issue, giving her money for drugs so she would sign various documents for him.
“Fraud hurts our economy and hurts victims, as was the case here,” said Jason Dunn, U.S. Attorney, in the release. “The seven year federal prison sentence is an appropriate outcome for this defendant’s attempt at cheating the system.”
The Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation investigated the case, and Assistant U.S. Attorney Rebecca Weber prosecuted.AlertMe