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| Owners of Modesto car dealership sentenced to prison for bank fraud |
| By turnto23.com |
| Published: 10/01/2013 |
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Modesto brothers received lengthy prison sentences as a result of their conviction for conspiring to commit bank fraud, United States Attorney Benjamin B. Wagner announced, Monday. Abdel Baset Jawad, also known as Fred Jawad, 38, was sentenced to four years and nine months in prison, and his brother Abdul Muniem Mohamad Jawad,known as Manny Jawad, 39, was sentenced to four years and three months in prison. Both defendants were ordered to pay approximately $601,000 in restitution to victims of their fraud. “Today’s sentencing marks the culmination of a long investigation and prosecution,” stated U.S. Attorney Wagner. “Those who take advantage of the banking and lending systems will be held accountable. We will continue to work with the FBI and other law enforcement partners to bring schemes like this to justice.” “The Jawad brothers put personal gain ahead of the financial well-being of their customers and the stability of the institutions funding the fraudulent loans,” said Special Agent in Charge Monica Miller of the Federal Bureau of Investigation’s Sacramento Field Office. “Such greed negatively impacts the economies of the communities we serve, not just a select few, and we remain committed to bringing members of conspiracies like this to justice.” Read More. |
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