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October 14, 2020

Posted  October 14, 2020

Michael Allen Worley of Baton Rouge, Louisiana, was sentenced to 12 years in prison following his plea of guilty on charges including bank fraud.  Worley admitted that between 2014 and 2018 he fraudulently obtained more than $40 million in loans and investments from banks and private equity firms for himself and his businesses.  Worley’s fraud included false statements that inflated his assets, understated and omitted his liabilities, misrepresented his income, and misrepresented the intended use of loan proceeds. Worley was also ordered to pay $15.75 million in restitution to his victims.  USAO MD LA

Tagged in: Criminal Proceedings, Financial and Investment Fraud, Financial Institution Fraud, Misrepresentations,

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