(STL.News) – The United States Attorney’s Office for the Middle District of Pennsylvania announced that Eric R. Colborn, age 49, of Dunmore, Pennsylvania, was charged in a criminal information on October 31, 2019, with conspiracy to commit bank fraud.
According to United States Attorney David J. Freed, the criminal information alleges that Colborn created a counterfeit Wells Fargo brokerage statement in his name showing that he had in excess of $14,000,000 in a brokerage account, and then fraudulently induced reliance on the counterfeit brokerage statement to secure property and other things of value. It is also alleged that Colborn and his coconspirator entered into sales agreements to purchase property and vehicles by writing checks on accounts neither Colborn or his coconspirator owned or were authorized to use. The scheme to defraud started in or about November 2017 and continued through March 2019. The total loss amount is approximately $404,293.
The case was investigated by the Internal Revenue Service – Criminal Investigation Division, the Dunmore Police Department, and the Lackawanna County District Attorney’s Office. Assistant U.S. Attorney Michelle Olshefski is prosecuting the case.
Criminal Informations are only allegations. All persons charged are presumed to be innocent unless and until found guilty in court.
A sentence following a finding of guilt is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines.
The maximum penalty under federal law for this offense is 30 years’ imprisonment, a term of supervised release following imprisonment, and a fine. Under the Federal Sentencing Guidelines, the Judge is also required to consider and weigh a number of factors, including the nature, circumstances and seriousness of the offense; the history and characteristics of the defendant; and the need to punish the defendant, protect the public and provide for the defendant’s educational, vocational and medical needs. For these reasons, the statutory maximum penalty for the offense is not an accurate indicator of the potential sentence for a specific defendant.