Man Sentenced to 51 Months for Bank Fraud Scheme | USAO-EDNC

NEW BERN, N.C. – 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.

A copy of this press release is located on our website. Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 5:19-cr-00261-FL.

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The year 2020 marks the 150th anniversary of the Department of Justice.  Learn more about the history of our agency at www.Justice.gov/Celebrating150Years.

 

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