Secret Service Most Wanted Man Explains How He Swindled Millions from Banks
Source: YouTube · Danny Jones · published Oct 18, 2019 · 15:37
The video describes a mortgage fraud scheme where the speaker obtained multiple loans against the same properties, accumulating $1.3 million in debt before being caught 0:31-0:37. When Washington Mutual discovered they were in third position on a loan, they threatened FBI involvement until the speaker repaid $160,000 1:15-1:35. The scheme unraveled when he was arrested at Wachovia Bank while attempting to withdraw $9,000 in cash 5:54-6:41. Despite having undergone plastic surgery to change his appearance, he was identified as the fraud perpetrator 15:03-15:20.
Key Takeaways:
• The speaker borrowed approximately $1.3 million against two properties using multiple loans from different banks 0:31-0:37
• Washington Mutual discovered the fraud and threatened FBI involvement before accepting repayment 1:15-1:35
• He was arrested at Wachovia Bank while attempting to withdraw cash 5:54-6:41
• His partner refused to help him escape as he was #1 on the Secret Service's most-wanted list 14:08-14:11
The speaker's elaborate identity fraud scheme eventually collapsed despite his attempts to conceal his identity through plastic surgery and deception.
Sources:
- 0:31-0:37 Description of borrowing $1.3 million against properties
- 1:15-1:35 Washington Mutual discovering the fraud
- 5:54-6:41 Arrest at Wachovia Bank
- 14:08-14:11 Being on Secret Servic
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First 800 characters of the transcript
anyway so we get we bought we go to one house I satisfy the loans in public record I then turn around I have no credit Gary Sullivan has no credit okay but I have a house worth $210,000 so I turn around and I go to multiple banks and I borrow money I borrow one hundred ninety thousand from one bank 196 from another Bank when I use that house yeah so our bar like five loans it's like nine hundred thousand and I borrowed another four hundred thousand on the other house so it's 1.3 million dollars so then I go to all the closings within a few days of each other one of the things that happens in the meantime by the way is that the other house that I had one of those lenders did a loan they did a loan on the second house and they caught that they were in third position so that's all loan for li…