A Kentucky man has been sentenced to 50 months in federal prison for bank fraud.
John Guzman, 70 of Shelby County, was sentenced to 50 months for nine counts of bank fraud. He was also sentenced to five years supervised release.
He was convicted last year of defrauding American Founders Bank of over $4,000,000.
http://liarcatchers.com/fraud_investigation.html
According to evidence presented at the trial, Guzman bought the Grider Hill Marina on Lake Cumberland using money from nine fraudulent bank loans.
Guzman submitted false paperwork in his bank loan applications and claimed that the money would be used to buy boats and homes that did not actually exist.
He also falsified appraisal documents and insurance policies for the nonexistent collateral, he forged signatures of investors, acquaintances and his dead brother.
