Ernest X. Taylor Jr., from LaPlace, Louisiana, pleaded guilty to one count of bank fraud. He obtained more than $400,000 in loans by using false information. This was announced last Wednesday by Acting United States Attorney Michael M. Simpson, according to the U.S. Attorney's Office.
Taylor, 40, carried out a plan from 2019 to 2022 in which he applied for loans at credit unions, saying the money would be used to buy vehicles. However, the funds were never used for that purpose. He applied using other people’s names and did not disclose that the money would go to himself. Taylor used fake documents, including false vehicle titles and pay stubs, to deceive the credit unions, as reported by the U.S. Attorney's Office.
Taylor obtained loan funds but then disappeared and failed to repay the loans. The Federal Bureau of Investigatio and U.S. Secret Service investigated and uncovered his wrongdoing. His sentencing is scheduled for October 29, before Judge Jane T. Milazzo. Assistant U.S. Attorneys Maria M. Carboni and Edward Rivera are handling the case, as stated by the U.S. Attorney's Office.
