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Lexington Man Sentenced to 27 Months for Bank Fraud and Aggravated Identity Theft | USAO-EDKY

LEXINGTON, Ky.Vonnie McDaniels, 32, of Lexington, Kentucky, was sentenced to 27 months in federal prison on Monday by Chief U.S. District Judge Danny C. Reeves, after being convicted of bank fraud and aggravated identity theft.

McDaniels obtained a $382,500 commercial loan from Kentucky Bank in August 2019 under false pretenses, and used the loan proceeds to purchase an office building in Frankfort, Kentucky that was being leased by the Commonwealth of Kentucky.  According to the evidence at trial, during the loan application process, McDaniels gave the bank falsified financial records and other information, which misrepresented his assets and liabilities, and modified key terms of the lease agreement with the state.  The state terminated the lease in December 2019.  In March 2020, McDaniels requested loan forbearance from Kentucky Bank, falsely claiming that the reason he was unable to repay the loan was that the state of Kentucky had suspended rent payments under the lease due to the COVID-19 pandemic.  To corroborate this lie about the pandemic, McDaniels fabricated a letter from a state employee purporting to suspend lease payments at the office building, and used the name and signature of that employee. 

McDaniels was convicted in June 2021.  

Under federal law,  McDaniels must serve 85 percent of his prison sentence, and upon he release from prison will be under the supervision of the U.S. Probation Office for three years.

Carlton S. Shier, IV, Acting United States Attorney for the Eastern District of Kentucky; Edward J. Gray, Acting Special Agent in Charge, Federal Bureau of Investigation, Louisville Field Office; and Kathy Enstrom, Special Agent in Charge, Federal Deposit Insurance Corporation, Office of Inspector General; jointly announced the sentence.

The investigation was conducted by the FBI and FDIC-OIG.  The United States was represented by Assistant United States Attorney Paul McCaffrey.

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Source: on 2021-09-29 09:52:30

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