ERIE, Pa. - A resident of Alpharetta, Georgia, pleaded guilty in federal court to a charge of bank fraud, Acting United States Attorney Soo C. Song announced today.
Willie Hugh Joy, 47, of Alpharetta, Georgia, pleaded guilty to one count before United States District Judge David S. Cercone.
In connection with the guilty plea, the court was advised that from in and around January 2009, to in and around January 2013, Joy and his co-defendants engaged in a fraudulent loan program in which a hierarchy of brokers, managers, processors and straw borrowers falsified bank loan documents and supporting documentation in order to obtain various auto and consumer loans and lines of credit from banks and credit unions.
Judge Cercone scheduled sentencing for Aug. 14, 2017 at 1:30 p.m. The law provides for a total sentence of 30 years in prison, a fine of $1,000,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.
Pending sentencing, the court continued Joy on bond.
Assistant United States Attorney Marshall J. Piccinini is prosecuting this case on behalf of the government.
The United States Secret Service conducted the investigation that led to the prosecution of Joy.
--DOJ Western District of Pennsylvania
Source: U.S. Secret Service