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Accused Ringleader Pleads Guilty In $29M Bank Fraud

Law360 (March 7, 2018, 6:30 PM EST) -- The owner of a loan facilitation company pled guilty in Texas federal court Tuesday to running a five-year, $29 million bank fraud scheme in which he oversaw employees who pushed clients to submit false income statements and tax records to financial institutions.

Eddie Contreraz, the owner and operator of Preferred Marketing Group Inc., pled guilty to one count of aiding and abetting bank fraud for his role in a scheme from January 2011 to March 2016 in which he and his employees helped clients defraud banks...
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