The U.S. attorney’s office announced this morning the indictment of Alberto Solaroli, 59, of Jacksonville, Fla., for a bank fraud scheme in which he obtained a $1.5 million loan from OneBanc in 2007 on the strength of a false financial statement. He defaulted on the loan.

The indictment seeks recovery of the $1.5 million.

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According to a news release:

Solaroli, a Canadian citizen purporting to be the owner of patents for technology related to a more efficient combustion engine, was living and working in Jacksonville, Florida when he borrowed $1.5 million, via a personal line of credit, from OneBanc in April 2007. He was approved for the loan based on financial statement he signed in which he claimed assets of $170,900,000 with a net worth of more than $169 million. According to the Indictment, Solaroli falsified the nature and scope of his assets, the value of his assets, and his overall personal net worth. As a result of his sworn financial statement, Solaroli received a one year line of credit which he took within the first month of the loan approval, with over $900,000 being paid to Porche Motorsport, N.A. Solaroli never made a single payment on the loan causing OneBanc to sue Solaroli. In 2008, OneBanc received a civil judgment in Florida for $1.5 million dollars which Solarioli has not paid.

The indictment is part of the work of a national effort to target financial fraud. U.S. Attorney Chris Thyer said the task force was scrutinizing irregularities in loan transactions to look for deceit.

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