Sixth Individual Pleads Responsible to Utilizing Stolen Identities to Receive $2.4M in Automotive Loans

A sixth individual has pleaded responsible to his function in a scheme that cheated $2.4 million from banks in a number of states and used stolen identities to acquire and try to get hold of automotive loans, federal prosecutors mentioned.

On Tuesday, Fernando Diaz, 34, of Haverhill, Massachusetts, pleaded responsible in U.S. District Court docket in Windfall to conspiracy to commit financial institution fraud.

Based on a press release offered by the U.S. legal professional’s workplace in Rhode Island, Diaz obtained a $50,000 mortgage by means of using a stolen identification of a Connecticut resident in December of 2017.

Prosecutors added that Diaz and different members of the scheme deposited and withdrew the cash right into a TD Checking account, opened underneath the identical stolen identification. The scheme spanned a number of states, together with Rhode Island, Connecticut, New Hampshire, Massachusetts and others.

Prosecutors additionally mentioned Diaz admitted to making use of for 3 on-line used automotive loans in June of 2019, falsely claiming he deliberate to buy a 2016 Porsche Cayenne. Based on the U.S. Lawyer’s workplace, every on-line utility included cast paperwork, together with faux payments of sale, automotive titles, pay stubs, proof of employment and different cast paperwork all created by a member within the scheme. Every automotive mortgage was roughly $35,000, $35,574, and $36,000.

The investigation was carried out by the Social Safety Workplace of Inspector Normal and america Secret Service. Assistant U.S. Lawyer William J. Ferland is prosecuting the circumstances.

Diaz is the sixth individual convicted, together with Roland E. Estrella, 33, the admitted ringleader. At the very least eight different individuals had been named within the indictment.

A sixth individual, Fernando Diaz of Haverhill, Massachusetts, has pleaded responsible to his function in a scheme that cheated $2.4 million from banks in a number of states and used stolen identities to acquire and try to get hold of automotive loans, federal prosecutors mentioned. Prosecutors mentioned Diaz admitted to making use of for 3 on-line used automotive loans falsely claiming he deliberate to buy a 2016 Porsche Cayenne. Above, a Porsche Cayenne is displayed in the course of the second press day on the 89th Geneva Worldwide Motor Present on March 5, 2019, in Geneva, Switzerland.
Robert Hradil/Getty Photographs

Estrella, who beforehand ran a used automotive dealership known as Estrella Nationwide Auto LLC, in Lawrence, Massachusetts, was beforehand arraigned in 2020 and pleaded responsible in October.

He was charged with collaborating in a conspiracy scheme defrauding monetary establishments in a number of states by means of stolen identities and fraudulent paperwork.

Estrella was first charged in December of 2019 as a part of this ongoing investigation. A federal grand jury charged him with ten counts of conspiracy to commit financial institution fraud, aggravated identification theft, use of Social Safety numbers and 7 counts of financial institution fraud.

Based on a press release launched by Appearing U.S. Lawyer Richard Myrus, Estrella admitted he recruited others to file faux used automotive mortgage functions, open financial institution accounts underneath stolen identities to withdraw and deposit cash.

Diaz’s sentence is scheduled for April 5, whereas Estrella’s is scheduled for March 24.

The Related Press contributed to this report.