Modesto Dealers Sentenced to Prison for Bank Fraud
Two brothers who owned and operated several California dealerships were sentenced to more than four years in prison and ordered to pay more than $600,000 in restitution for conspiring to commit bank fraud.
MODESTO, Calif. — Two brothers who owned and operated various used-vehicle dealerships in Stanislaus and Merced Counties — including Own-A-Car, The Auto Store, and Auction 2 U — were sentenced to prison and ordered to pay approximately $601,000 in restitution for conspiring to commit bank fraud, ABC 23 reports.
Abdel Baset Jawad was sentenced to four years and nine months in prison, while his brother Abdul Muniem Mohamad Jawad was sentenced to four years and three months. The Jawads prepared misleading and false financial information about credit challenged customers, and then submitting that information to financial institutions in order to obtain financing.
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