Massachusetts woman pleads guilty to bank fraud | USAO-NH
CONCORD- Donna Silva, 44, of Lowell, Massachusetts, pleaded guilty in federal court to bank fraud, U.S. Attorney Jane E. Young announced today.
According to court documents and statements made in court, in February 2019, Silva was involved in a scheme to defraud several financial institutions. The defendants in the scheme applied for and obtained several loans to purchase cars allegedly sold by Allied Imports, a Manchester car wholesaler, and Cap’s Auto Sales, a Manchester car retailer. The sales were fraudulent because the defendants never owned or significantly inflated the value of the cars. In total, the defendants defrauded the financial institutions of several hundred thousand dollars.
Silva signed a fraudulent purchase agreement and assignment of ownership with Cap’s Auto Sales purporting to state that she would purchase a car sold by the company. She then used the documents to apply for and obtain an auto loan secured by the vehicle, which Cap’s Auto Sales did not own or have title to.
Silva is scheduled to be sentenced on August 15, 2022.
“By submitting false documents to obtain fraudulent loans, the defendant participated in a major criminal scheme,” said U.S. Attorney Young. “As this case shows, we work closely with our law enforcement partners to identify and prosecute those who commit fraud. Working together, we strive to hold these criminals accountable for their unlawful conduct and seek justice for the victims.
This case was investigated by the United States Secret Service and the United States Postal Inspection Service. The case is being prosecuted by Assistant U.S. Attorney Charles Rombeau and Special Assistant U.S. Attorney Alexander S. Chen.