A Florida woman has been found guilty of trying to score a line of credit with phony paperwork, the feds said last week. Elaine Escoe, 39, of Delray Beach, was convicted of wire fraud for submitting bank statements that were doctored to hide the real name of her bank account and show exaggerated cash balances, in hopes of propelling her business forward with fraudulent funds.
In a statement obtained by U.S. Attorney's Office, officials announced the conviction secured by a Fort Lauderdale federal jury on May 22. The trial revealed Escoe's scheme to boost her business's financial appeal, flipping figures on bank statements to inflate what was actually in the coffers.
According to a report from CBS12, Escoe now faces up to two decades behind bars. The truth behind Escoe's tinkered totals came crashing down as federal prosecutors presented the manipulated documents in court, leading to her downfall.
The sentencing phase looms for the convicted fraudster, with U.S. District Judge Melissa Damian set to hand down Escoe’s fate on August 14. Weaving a tale out of fake financial sheets, Escoe now potentially squares with a stark reality of up to 20 years in federal lockup. Details of the case can also be found on the website of the District Court for the Southern District of Florida, the DOJ added.
