Sacramento Man Pleads Guilty to $1.3 Million Loan Fraud Scheme
A 59-year-old Sacramento man has pleaded guilty to seeking approximately $1.3 million in fraudulent loans by claiming ownership of multiple shell businesses with no employees.
Sacramento Stockton Modesto, CA, July 27, 2026 —
A 59-year-old Sacramento man has pleaded guilty to charges related to a scheme involving fraudulent loan applications. The individual is accused of seeking approximately $1.3 million in loans.
Prosecutors allege that the man claimed ownership of several shell businesses. These businesses reportedly had no employees, a detail that was central to the fraudulent claims made in the loan applications.
The plea agreement indicates the man admitted to his role in the scheme. Further details regarding the specific types of loans sought or the financial institutions involved were not provided in the available information.
The case has been processed through the legal system, culminating in the guilty plea. The exact timeline of the fraudulent activity and the date of the plea were not specified.
The man’s age and location, Sacramento, have been identified. The total amount sought in the fraudulent loan applications is reported to be around $1.3 million.
Story summarized from the original created by Eric Schucht on fox40.com, see more information here.
