California Man Admits To Orchestrating ‘Ponzi-Like’ Scheme, Draining $39,000,000 From Financial Institutions

A California man has been sentenced to prison for a nearly decade-long bank fraud scheme that defrauded seven financial institutions of nearly $39 million. Northridge resident Gary Topolewski submitted false commercial loan applications claiming funds would buy industrial earth-moving equipment and provide working capital for his companies, says the U.S. Department of Justice (DOJ). Instead, […] The post California Man Admits To Orchestrating ‘Ponzi-Like’ Scheme, Draining $39,000,000 From Financial Institutions appeared first on The Daily Hodl.