Multiple Texas Banks Suffer at Least $10,000,000+ in Losses After Lending Intermediary Uses Forgeries To Obtain Loans for Customers

A Dallas loan broker, Kwanghee Ahn, is facing years in prison over her role in a multi-year fraudulent scheme that secured more than $10 million in loans and credit from multiple banks located in North Texas.

The scheme involved fake Internal Revenue Service (IRS) tax filing documents, pay stubs and employment records created at Preferred Marketing Group by Ahn’s co-conspirators and resulted in at least $10 million in fraudulently obtained loans and credit products between 2014 and 2016, according to a U.S. Attorney’s Office for the Northern District of Texas filing.

The U.S. Attorney for the Northern District of Texas, Ryan Raybould, says,

“This was not a victimless paperwork scheme. Ms. Anh and her partners flooded lenders with false documents and manipulated credit reports to steal millions. Their actions undermine confidence in the financial markets that North Texans and Main Street families rely on every day. My office will continue to aggressively prosecute anyone who threatens the stability of our region’s banking system and the financial security of hardworking consumers.”

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