Fake LOC Scam Results in Guilty Plea

Yisroel (“Scott”) Heber pleaded guilty last month for his role in a fake business line of credit scam. In April, the US Attorney for the Southern District of NY and the US Secret Service alleged that Heber and a co-defendant posed as a lending company and induced victims to make payments related to loans that they promised they would get but never actually came through with. Heber pleaded guilty to Conspiracy to Commit Wire Fraud.

Prosecutors called it an “advance-fee merchant cash advance fraud scheme through which they agreed to defraud victims of a total of more than $1.5 million.”

The case against Heber’s co-defendant is still ongoing.