Three Hudson Valley Residents Charged With $2.5 Million Fraud
Three Orange County residents are facing some very, very serious fraud charges.
From at least in or about 2007 through in or about July 2015, BINDER TAL, BALDEV TAL, and MINTU fraudulently obtained loans and lines of credit from banks, credit unions, and other lending institutions. The defendants obtained the loans by providing materially false information to the lenders about the borrowers’ assets, including false information about the borrowers’ employment and income. Through their scheme, the defendants and their co-conspirators fraudulently obtained more than $2.5 million in proceeds in connection with dozens of loan applications and applications for lines of credit. The vast majority of the loans and lines of credit went into default, and millions of dollars were not repaid.
Millions of dollars! Millions. That could mean way more than a slap on the wrist. How much more? Oh, how about 30 years more? Each of the group faces a maximum sentence of 30 years in prison on the charge of conspiring to commit bank fraud and a maximum sentence of 20 years in prison on the charge of conspiring to commit money laundering.
Two of the three have been apprehended: Baldev Tal was arrested in Pennsylvania and Shariful Mintu was arrested in Orange County, while one individual, Binder Tal, remains at large.
More From WRRV-WRRB
