Woman Jailed for Lying About Assets in Loan Application

Allison Tussey —  August 13, 2012 — Leave a comment

Shawna Lea Pennington, 40, Caldwell, Idaho, was sentenced in United States District Court to six months in prison and six months of home detention for bank fraud and bankruptcy fraud. U.S. District Judge Edward J. Lodge also ordered Pennington to serve five years of supervised release. She pled guilty to the charges on March 20, 2012.

According to the plea agreement, Pennington admitted to submitting a loan application to Zions Bank in March 2010 with a false and fictitious earnings statement and Form W-2, as well as falsely representing the amount of cash in checking and savings accounts. Zions Bank funded the loan based on the misrepresentations. In December 2010, Pennington filed a Chapter 13 bankruptcy petition. She admitted to failing to disclose the names of creditors on her bankruptcy schedule, which would have provided them notice of her bankruptcy filing.

U.S. Attorney Wendy J. Olson announced the sentence.

The case was investigated by the Nampa Police Department with assistance from the Idaho Attorney General’s Office, the Federal Bureau of Investigation, and the Office of the United States Trustee.

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