Home Philadelphia Press Releases 2013 Bank Employee Charged in Fraud Scheme

Bank Employee Charged in Fraud Scheme

U.S. Attorney’s Office August 29, 2013
  • Eastern District of Pennsylvania (215) 861-8200

Horng Dai, a/k/a “James Dai,” 46, of Newtown, Pennsylvania, was charged today by indictment with seven counts of receipt of commissions or gifts for procuring loans, announced United States Attorney Zane David Memeger.

If convicted on all counts, the defendant faces a maximum possible sentence of 65 years’ imprisonment, a $2.5 million fine, not more than five years of supervised release, and a $325 special assessment.

The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Linwood C. Wright, Jr.

An indictment or information is an accusation. A defendant is presumed innocent unless and until proven guilty.

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