A California man was sentenced Tuesday to more than six years in prison for fraudulently obtaining about $39 million in business loans from seven banks, which were tricked into believing the loans were for construction equipment, the DOJ said.
Fraud
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Bank imposter fraud jumped in 2025, FTC finds
Bank impersonators scammed the public out of nearly $1 billion in 2025, a sharp increase over 2024 levels, the FTC said.
