Catoosa woman faces sixteen counts of bank fraud in Oklahoma loan scam
A Catoosa woman has been indicted for defrauding seven Oklahoma banks when she falsified and submitted documents to apply for $735,396 in loans, announced Acting U.S. Attorney Clint Johnson.
Pamela Kathryn Conley, 58, is charged with 16 counts of bank fraud and 3 counts of aggravated identity theft.
“Pamela Conley allegedly lied when she applied for more than $735,000 worth of loans, claiming, in part, to make six figures on falsified earning statements,” said Acting U.S. Attorney Clint Johnson.
“White-collar criminals don’t get a pass for the offenses they commit. Agents with the U.S. Secret Service and IRS-Criminal Investigation follow the money and expose their crimes. The U.S. Attorney’s Office is now prepared to hold this alleged white-collar criminal accountable in federal court.”
From September 2016 to Feb. 23, 2021, Conley allegedly executed a scheme to enrich herself by knowingly submitting loan applications containing false income and employment information at seven banks and credit unions.
According to the indictment, Conley forged earning statements which she provided to the financial institutions as proof of income. Conley falsified the statements to reflect that she held positions such as manager and chief financial officer, earning a salary of $200,000 or more annually or $18,000 a month.
The indictment alleges that on occasion, when loans were secured with collateral, Conley created fictitious lien releases for the collateral, using the notarized signature of unwitting financial institution employees.
Conley then caused the bogus lien releases to be filed with the Oklahoma Tax Commission, which in turn provided Conley with titles to the collateral, free and clear of any liens. Conley would then approach new lenders to obtain loans secured by collateral she did not own free and clear.
An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
IRS-Criminal Investigation and the U.S. Secret Service are the investigative agencies.
Assistant U.S. Attorney Richard M. Cella is prosecuting the case.