Bank Employee Charged in Fraud Scheme

2013-09-02

Horng Dai, a/k/a “James Dai,” 46, of Newtown, Pennsylvania, was charged by indictment with seven counts of receipt of commissions or gifts for procuring loans, announced United States Attorney Zane David Memeger.

If convicted on all counts, the defendant faces a maximum possible sentence of 65 years’ imprisonment, a $2.5 million fine, not more than five years of supervised release, and a $325 special assessment.

The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Linwood C. Wright, Jr.

Source: U.S. Federal Bureau of Investigation