Stephen Brown Indicted On Bank Fraud Charges

| By:

Fed courthouse BrooklynStephen Brown, the Cedarhurst, NY-based former bookkeeper for merchant cash advance companies, has been federally indicted. Brown is accused of falsifying the books for the father of a reality TV star so that he could deceive banks into getting approved for loans.

The indictment is entirely separate from civil charges brought by the New York Attorney General against Brown for fraud he allegedly participated in at another company called Cardis Enterprises International.

In his newer federal criminal case, Brown is accused of backdating documents, preparing a false income verification letter, creating fake IRS documents, as well as preparing a fake contract, a fake promissory note, and a false tax return in order to defraud banks.

stephen brown bank fraud indictment - cedarhurst, NYProsecutors describe Brown’s conduct as someone that would create whatever bogus documentation was required to provide to third parties in any given situation.

The indictment was handed down in April in Arizona and Brown was arrested by law enforcement officers in Brooklyn, NY. He appeared before a magistrate judge there in the Eastern District and was released on $1 million bond. He had to surrender his passport and was originally limited to travel only within New York and Arizona. However, Brown requested that the limitations be extended to include the entire continental United States so that he can visit family and continue visiting the locations of his additional accounting clients.

A jury trial is currently scheduled for February 11, 2020.

Last modified: October 1, 2019

Category: Legal Briefs

Home Legal Briefs › Stephen Brown Indicted On Bank Fraud Charges