Delaware grand jury indicts doctor in bank fraud scheme
A grand jury indicted a doctor with practices in Delaware, Maryland, New Jersey and Pennsylvania on allegations he committed bank fraud, according to the U.S. Attorney's Office in the District of Delaware.
Dr. Zahid Aslam, 44, was charged last week with one count of conspiracy to commit bank fraud and two counts of false statements on loan applications.
The indictment alleges that the Elkton, Maryland, man entered into a bank fraud scheme with Tae Kim, his loan officer at Citibank and WSFS Bank.
Aslam recruited two other associates to misrepresent in loan applications that they were the borrowers and operators of medical practices, when Aslam was actually the owner of the practices and the beneficiary of the loan proceeds, the indictment said.
The indictment claimed Aslam did so because he knew he would not qualify for financing.
Aslam and Kim concealed from the banks their extensive financial relationships, including joint ownership of businesses and large cash payments and a BMW sedan that Aslam provided to Kim, the U.S. Attorney's Office said.
“The indictment alleges that the defendant defrauded two financial institutions by misrepresenting the actual owners and operators of two medical practices and by failing to disclose a significant financial relationship with his former loan officer," Acting U.S. Attorney David C. Weiss. "It is critical that borrowers provide accurate information to financial institutions and our office is committed to prosecuting those who fail to do so.”
In Maryland, Aslam owned Alpha Medical Center, a multi-specialty medical group, imaging department, pharmacy and laboratory.
The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service's Criminal Investigation Division. It is being prosecuted by Assistant U.S. Attorneys Robert F. Kravetz and Jennifer L. Hall.
Article From:- https://www.delawareonline.com