Man Charged with Using False Information to Qualify for Loans

Allison Tussey —  December 29, 2014 — Leave a comment

Daniel Rosenthal, 31, Yorba Linda, California, was arraigned on charges of submitting fraudulent loan applications to three Bay Area banks using a false name and then laundering more than $2.5 million in fraudulently obtained proceeds.

A federal grand jury in San Francisco indicted Rosenthal on December 23, 2014. According to the Indictment, Rosenthal submitted fraudulent loan applications to three Bay Area banks using a false name, false bank statements, and false financial statements in support of the loan applications. According to the Indictment, Rosenthal falsely claimed that the loans were to be used to finance Sunshine Daydream, an event planning business that he falsely claimed to own.  The Indictment also alleges that after receiving the loan proceeds, Rosenthal used some of the proceeds to purchase gold and send some of the money to a bank in Cyprus and to third parties.

Rosenthal was first charged in a Criminal Complaint filed on December 9, 2014.  He was arrested in Yorba Linda, Calif., on December 11, 2014.  He made his initial appearance in federal court in Santa Ana, California, on December 11, 2014, where he was detained and ordered transported to the Northern District of California. Rosenthal first appeared in federal court in San Francisco on December 22, 2014. Rosenthal was ordered detained by the Honorable Bernard Zimmerman, U.S. Magistrate Judge, and is currently being held in the custody of the United States Marshal’s Service. Rosenthal is next scheduled to appear on January 12, 2015, at 2:00 p.m., for an initial appearance before the Honorable Vince Chhabria, U.S. District Court Judge.

If convicted of bank fraud, Rosenthal faces a maximum sentence of 30 years in prison for each violation of 18 U.S.C. § 1344, plus restitution. If convicted of money laundering, Rosenthal faces a maximum sentence of 10 years in prison for each violation of 18 U.S.C. § 1957. If convicted of aggravated identity theft, Rosenthal faces a mandatory two-year sentence for each violation of 18 U.S.C. § 1028A . However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.

United States Attorney Melinda Haag and Federal Bureau of Investigation Special Agent in Charge David Johnson announced the charges.

Denise Marie Barton is the Assistant U.S. Attorney who is prosecuting the case with the assistance of Trina Khadoo.  The prosecution is the result of an investigation by the Federal Bureau of Investigation.

 

Be Sociable, Share!

Allison Tussey

Posts Google+

No Comments

Be the first to start the conversation.

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

*