Jamal Watson Sentenced to 51 Months for Bank Fraud Scheme

Jamal Watson Sentenced to 51 Months for Bank Fraud Scheme

(STL.News) – Jamal Watson was sentenced this week to 51 months in prison for defrauding financial institutions.

According to court documents, Watson, age 42, had just been released from federal prison after serving 121 months for Distribution of Heroin and Possession of Firearm by a Felon when he began a bank fraud scheme to purchase vehicles from dealerships throughout North Carolina.  Watson, his wife and another individual applied for loans to purchase 20 vehicles during a one year period.  At first, Watson used his own social security number, but provided false employment information.  After the first two vehicles were repossessed for lack of payment, Watson and his wife provided fake social security numbers and fictitious employment information. To hinder the banks from locating fraudulently obtained vehicles, Watson also provided a fake North Carolina driver’s license bearing a false Durham address.  In addition to the period of incarceration, the Court ordered Watson to pay restitution to the victims and forfeit the $29,732,36, which was the amount of the loan he obtained to purchase a Maserati from a Charlotte dealership.

Robert J. Higdon, Jr., U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by U.S. District Judge Louise W. Flanagan.  The United States Postal Inspection Service investigated the case and Assistant U.S. Attorney Susan Menzer prosecuted the case.


About Marty Smith 10908 Articles
Marty Smith is the Editor in Chief and a founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe. Additionally, Smith is responsible for building a network of aggregator sites to manage the content involving thousands of sources.