by Alex Lloyd Gross
Darryl T. Wells, 34, of Philadelphia, entered a plea of guilty yesterday to a charge of bank fraud, in Federal Court. Authorities alleged that from December 2018 and January 2019 He was employed as a deputy sheriff. During that time period Wells submitted eight different applications with banks for credit or loans. While doing this, he inflated his monthly income.
While that practice is done frequently by people, it is usually an embellishment, of say making $40,000 per year but putting down $45,000. It looks good on paper and a bank is more likely to approve an application. It is still illegal to do.
Wells took that one step farther and submitted doctored, fraudulent pay stubs to back up his claim. in total, Wells received $145,000 in fraudulently obtained proceeds, which he immediately spent or transferred, and the financial institutions were not repaid.
Wells is scheduled to be sentenced on March 3 and faces a maximum possible term of 30 years in prison, five years of supervised release, and a $1 million fine. It is unlikely that he will get the maximum fine.