Dearborn-Based Business Owner and Former Attorney Sentenced to Prison for Bank Fraud

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2013-11-20

The owner of a Dearborn, Michigan-based real estate company was sentenced to 110 months in prison, and a former Dearborn attorney was sentenced to 48 months in prison following their convictions for bank fraud and commercial bribery, announced United States Attorney Barbara L. McQuade.

Making the announcement along with U.S. Attorney McQuade were Paul M. Abbate, Special Agent in Charge of the Detroit Office of the Federal Bureau of Investigation; Giovanni Tiano, Special Agent in Charge of the Dearborn Office of the Department of Homeland Security-Office of Inspector General; and Jeffrey Frost, Special Agent in Charge of the Detroit Office of the U.S. Secret Service.

Defendant, Hussein “Sam” Nazzal, 60, of Dearborn, and the owner of the of G&S Development real estate investment firm, was sentenced to serve 110 months in federal prison following his conviction at trial for bank fraud, bribery of a bank officer, and obstruction of justice. Nazzal was also order to pay $2.9 million in restitution to his victims.

Defendant Edward A. Schneider, 60, of Dearborn, the former principal in the law firm Edward Schneider P.C., was sentenced to serve 48 months in prison following his conviction at trial for bank fraud and bribery of a bank officer.

Schneider was also ordered to pay more than $2.7 million in restitution to his victims.

Both defendants were sentenced before the Honorable David M. Lawson of the U.S. District Court for the Eastern District of Michigan.

As part of the same prosecution, four additional defendants were previously sentenced to terms ranging from two years of probation to 40 months in prison. One defendant faces deportation to Lebanon on his release from the Bureau of Prisons.

In announcing the two sentences, McQuade stated, "Bank fraud offenses harm all of us by shifting costs to consumers and by making it harder for legitimate borrowers to obtain loans.”

Source: U.S. Federal Bureau of Investigation

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