Florida man indicted for fraudulent loan scheme at Little Rock bank | Arkansas Blog

Friday, November 15, 2013

Florida man indicted for fraudulent loan scheme at Little Rock bank

Posted By on Fri, Nov 15, 2013 at 7:03 AM

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.

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.

Tags: , , ,


Favorite

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

  • Manafort will offer no defense case

    The prosecution has rested and the defense says it will call no witnesses in the fraud trial of Donald Trump's former campaign manager Paul Manafort. A local defense lawyer thinks he's toast.
    • Aug 14, 2018
  • Frank Scott adds name to mayor's race

    There are now officially four candidates for Little Rock mayor with Frank Scott Jr.'s filing on Monday.
    • Aug 14, 2018
  • Frank Broyles remembered in film

    A 14-minute film on the late Frank Broyles, Razorback football coach and athletic director, is now online on the UA website.
    • Aug 14, 2018
  • More »

Readers also liked…

  • Tom Cotton's influence on Trump's new security chief

    U.S. Sen. Tom Cotton is getting credit for pushing President Donald Trump to select Lt. Gen. H.R. McMaster as his national security adviser, Politico reports.
    • Feb 21, 2017
  • Campus gun bill clears committee

    The so-called compromise amendment that will allow anyone 25 or older with a training certificate carry a concealed weapon on public college campuses was approved in a Senate committee this afternoon.
    • Feb 21, 2017
  • Payday lenders on the march at legislature

    Payday lenders are working hard to get legislative cover for the reintroduction of their usurious loan business to Arkansas. Some are fighting back.
    • Mar 10, 2017

Most Viewed

Most Recent Comments

Slideshows

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation