Home San Antonio Press Releases 2013 Houston Man Admits Running $350,000 Auto Loan Scheme

Houston Man Admits Running $350,000 Auto Loan Scheme

U.S. Attorney’s Office December 05, 2013
  • Western District of Texas (210) 384-7100

In San Antonio, 48-year-old Pierre Koutani of Houston, Texas, faces up to five years in federal prison after pleading guilty this afternoon to making a false statement to a financial institution in relation to a $350,000 auto loan scheme, announced United States Attorney Robert Pitman and FBI Special Agent In Charge Armando Fernandez, San Antonio Division.

By pleading guilty, Koutani admitted that in July 2010, he obtained nine car loans totaling $350,368 by utilizing false and fraudulent employment information. According to court records, Koutani falsely claimed he had been a long-time account manager for a Houston-based mortgage company earning between $11,000 and $12,000 a month. Koutani sold many of the vehicles he obtained loans for to unsuspecting purchasers without disclosing the bank liens. Koutani defaulted on all but one of the loans.

Koutani remains on bond pending sentencing which is scheduled for March 5, 2014, before United States District Judge Xavier Rodriguez.

This investigation was conducted by agents with the Federal Bureau of Investigation. Assistant United States Attorney Tom Moore prosecuted this case on behalf of the government.