Loan Officer Sentenced to 2 Years for Fraud
A La Crescenta woman who worked as a loan officer at a Southern California credit union was sentenced Monday to two years in prison for taking out 17 bogus loans that caused the firm to lose more than $200,000.
Ibell Abellon, a former loan officer for Southland Credit Union, was sentenced by U.S. District Judge J. Spencer Letts and also ordered to pay $237,429 in restitution.
Abellon, 39, pleaded guilty in December to four counts of bank fraud.
Using several identities, including some belonging to credit union customers, Abellon obtained loans for more than $300,000 from January 2000 to October 2001, Assistant U.S. Atty. Angela Davis said. Abellon used money from newer loans to make payments on older ones, Davis said.
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