Businesswoman Sentenced to 20 Years for Altered Bank Statements Scheme

Businesswoman Sentenced to 20 Years for Altered Bank Statements Scheme

A Fort Lauderdale federal jury convicted Elaine Escoe, 39, of Delray Beach, Florida of wire fraud after submitting altered bank statements in an attempt to fraudulently obtain a line of credit for her business.

According to the Department of Justice, US Attorney’s Office, Escoe submitted altered bank statements in support of an application for a business line of credit. The altered bank statements obscured the true name of the bank account along with inflated cash balances.

This is not the first time we’ve seen this type of scheme, but it’s a stark reminder of the importance of verifying information before making any financial decisions. It’s clear that Escoe’s actions were not just a mistake, but a deliberate attempt to deceive and defraud.

Escoe faces a maximum sentence of 20 years in prison, and U.S. District Judge Melissa Damian will determine the final sentence at a hearing scheduled for August 14th. Assistant U.S. Attorneys Jonathan Bailyn and Katie L. Sadlo prosecuted the case, with Assistant U.S. Attorney Marx Calderon handling asset forfeiture.

The FBI’s Miami Field Office investigated the case, and U.S. Attorney Markenzy Lapointe for the Southern District of Florida announced the conviction. This case serves as a warning to anyone considering similar schemes: you will be caught, and you will face the consequences.

For more information on this case, including related court documents and information, visit the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov under case number 24-CR-80010.