A LaPlace resident, Ernest X. Taylor, Jr., has been charged with bank fraud in a case announced by Acting United States Attorney Michael M. Simpson for the Eastern District of Louisiana. According to court documents, Taylor, 40, allegedly applied for more than $400,000 in loans from credit unions between 2019 and 2022. Authorities say he claimed the funds would be used to purchase vehicles but instead submitted loan applications under other people’s names without disclosing that he would receive the proceeds.
The court records state that Taylor presented false documentation to support his loan applications, including fraudulent vehicle titles and falsified pay stubs. After obtaining the funds, Taylor reportedly defaulted on the loans.
If convicted of violating Title 18, United States Code, Section 1344(2), Taylor could face up to thirty years in prison, up to five years of supervised release, a fine of up to $250,000, and a mandatory special assessment fee of $100.
“Acting U.S. Attorney Simpson reiterated that the superseding bill of information is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.”
The Federal Bureau of Investigation and United States Secret Service investigated this case. Assistant United States Attorneys Maria M. Carboni and Edward Rivera from the Financial Crimes Unit are prosecuting.
