Used Car Dealer Charged with Bank Fraud, Aggravated ID Theft
Friday, February 21, 2020
A used car dealer from Massachusetts was arraigned in U.S. District Court in Providence on Wednesday on charges of bank fraud and aggravated ID theft, announced U.S. Attorney Aaron Weisman on Thursday.
Rolando Estrella, 32, of Dracut, Massachusetts was charged with conspiracy to commit bank fraud, aggravated identity theft, fraudulent use of a Social Security number, and seven counts of bank fraud.
Estrella surrendered to U.S. Marshals on Wednesday.
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According to the U.S. Attorney’s office, it is alleged that Estrella conspired with others to defraud financial institutions in Rhode Island, Massachusetts, and numerous other states across the country.
It is alleged in the indictment that the scam employed by Estrella and others involved the theft and use of individuals’ personal identifying information to open bank accounts with major banks and smaller credit unions.
Using that information along with counterfeited documents including automobile titles, Estrella and others applied for used car and truck loans which were then deposited into bank accounts opened in the “sellers’” names, after which the proceeds were quickly withdrawn.
According to the U.S. Attorney’s office, until recently, Estrella was the operator of Estrella National Auto, LLC, a used car dealership located in Lawrence, Massachusetts.
On December 17, 2019, an arrest warrant was issued for Estrella after a federal grand jury returned a ten-count indictment charging him with conspiracy to commit bank fraud, aggravated identity theft, fraudulent use of a Social Security number, and seven counts of bank fraud.
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