According to U.S. Attorney William N. Nettles, the Toadvines along with four other people were convicted for their roles in a scheme to fraudulently obtain auto loans by providing false documents to more than 16 different banks and credit unions. Nettles says the defendants obtained more than $800,000 from the banks and at times used the funds from one loan to pay off others in an attempt to keep the scheme running.
Daniel Kosmer Jr. of Greenville, Joyce Pozniko of Hanahan and Elizabeth Donnelly of Beaufort were also sentenced to three years of probation or supervised release after being found guilty of providing false statements on a loan application.
Thursday, 24 May 2012 20:31
Six Found Guilty in $800,000 Auto Loan Scheme
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Six people including two Mount Pleasant, SC men were sentenced in federal court for their roles in an auto loan scheme involving more than $800,000.
A judge sentenced William Brian Toadvine, 34, and Donald Toadvine, 58, to two years in prison to be followed by five years of supervised release after both were found guilty of conspiracy to commit bank fraud.
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SOUTHEAST NEWS
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