Owner Of Brunsman Cos. Cops To $52M Bank Fraud

Law360, New York (February 22, 2011, 5:09 PM EST) -- Cincinnati businessman Richard T. Brunsman Jr. admitted Tuesday to defrauding Bank of America NA, JPMorgan Chase Bank NA and other institutions of $52.6 million using false loan application documents.

Brunsman, 45, pled guilty before Judge Sandra S. Beckwith of the U.S. District Court for the Southern District of Ohio.

The businessman, who owned a host of Cincinnati-area businesses known as the Brunsman Companies, pled guilty to one count of bank fraud, admitting he tricked banks into supplying him with undeserved loans between 2004 and 2010....
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