ALBUQUERQUE, N.M. (KRQE) – Rick Benavidez, 47, of Albuquerque, is heading to jail for 5 years and three months after pleading responsible on April 29 to 2 counts of financial institution fraud, one depend of conspiracy to commit financial institution fraud, and one depend of creating fraudulent returns, statements, or different paperwork. Benavidez led and arranged two auto mortgage fraud schemes involving a complete supposed lack of greater than $1.5 million.
In response to the plea settlement, Benavidez admitted to working together with his co-defendant, 41-year-old Damian Maron, to scheme federally-insured credit score unions in Bernalillo County. The 2 had different conspirators apply for loans totaling $359,662.97.
The settlement states Benavidez would submit false pay stubs to mortgage candidates, overstating their earnings to assist assure a mortgage approval. Benavidez and his conspirators had the lenders disperse the cash to a pretend auto dealership. The proceeds would then be divided amongst everybody concerned within the rip-off.
Benavidez was additionally concerned in a separate auto mortgage rip-off with an supposed lack of $1,154,493.42, nearly all of which had already been dispersed. He has agreed to make restitution to the victims in an quantity that has not been determined but. Benavidez should full 5 years of supervised launch when he will get out of jail.
Benavidez additionally admitted in his plea settlement to sending a false doc to the IRS whereas his auto mortgage fraud case was pending that claimed U.S. District Courtroom Decide William P. Johnson was his authorized fiduciary.
Damian Maron has additionally pleaded responsible to 1 depend of financial institution fraud and one depend of conspiracy to commit financial institution fraud. He’s scheduled for sentencing on September 2.
