SAN DIEGO : La Jolla Man Faces Tax, Bank Charges
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A La Jolla man was charged Tuesday with two counts of bank fraud and four counts of filing false federal income tax returns, prosecutors said.
Nicholas Valentino, 45, was charged with filing false loan applications, seeking $400,000 and then $250,000, prosecutors said. The indictment also alleges that Valentino filed false tax returns for the years 1984 through 1986, prosecutors said.
If convicted, Valentino faces a maximum prison term of 72 years and fines as high as $3 million, prosecutors said.
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