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Father and daughter commit bank fraud in restaurant scam

| Nov 30, 2020 | bank fraud | 0 comments

When Texas residents decide to open a business, many strive to create positive working relationships with banks to secure commercial loans. For many entrepreneurs, these loans are necessary for securing property and goods before they can successfully launch their businesses.

However, there are some who take advantage of loan programs and knowingly commit bank fraud under the guise of entrepreneurship, as authorities believe a father and daughter did recently.

A phantom business

The Dallas Morning News reports that the father-daughter team announced their intent to open a restaurant featuring family-style dining, including a menu with local favorites and an outdoor patio dining experience for their patrons. These promises went undelivered as although the two signed a lease for the property and took out bank loans, the restaurant never materialized and contractors who worked on building renovations went unpaid.

Relative’s identity stolen

According to court records related to the case, the father and daughter not only committed bank fraud but identity theft as well, as the daughter used her grandmother’s personal information to obtain the restaurant’s bank loans. They used the grandmother’s identity to secure three loans for the restaurant, and the grandmother was not aware the father and her granddaughter stole her identity until the loans went unpaid and she found herself suddenly embroiled in a lawsuit over the money.

A fraudulent past

An investigation into both the father and the daughter revealed that both have past criminal records involving fraud. The daughter received probation for credit fraud and recently pleaded not guilty to these latest charges, and both she and her father may face significant jail time if convicted.