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Main Line Businessman Sentenced to Over Six Years for $21 Million Bank Fraud, Tax Evasion
A Pennsylvania businessman has been sentenced to six years and three months in prison for his role in a $21 million bank fraud scheme and tax evasion case.
Christopher Hogg, a 63-year-old resident of Gladwyne, PA, was sentenced by United States District Judge Nitza I. Quinones Alejandro for his participation in the loan fraud scheme, which occurred from November 2016 through January 2018.
The scheme involved Hogg and two co-conspirators, Rennie Rodriguez and Neal Dunoff, who submitted approximately 35 financing applications to a finance company, purportedly for premium finance loans to purchase insurance. However, the loans were not for that purpose, and Dunoff waived the loan verification procedures and approved the loans in exchange for compensation from Hogg.
Hogg used the proceeds of the fraudulent scheme as capital for his businesses and to support his luxurious lifestyle, including payments for a Mercedes Benz S-Class, country club dues, vacations, and the purchase of a $1 million mansion on the Main Line.
The tax fraud charges arose from Hogg’s failure to report over $370,000 worth of income on his tax return for tax year 2016 and his failure to report over $1.7 million in income for tax year 2017, resulting in a total tax loss to the government of approximately $750,000 for both years.
“This defendant abused the banking system in an effort to enrich himself and his coconspirators, all while cheating the bank and the United States government,” said U.S. Attorney Jennifer Arbittier Williams. “He tried to play games to avoid fulfilling his fiduciary and tax obligations, but the dedicated investigators on this case uncovered his lies.
The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service, and is being prosecuted by Assistant United States Attorney Karen L. Grigsby.
The defendant was sentenced to six years and three months in prison, and two years of supervised release, and was ordered to forfeit over $17 million and pay restitution of over $750,000.
The U.S. Attorney’s Office for the Eastern District of Pennsylvania announced the sentencing.
Hogg pleaded guilty in September 2021 to charges of conspiracy to commit bank fraud, bank fraud, filing a false return, and tax evasion.
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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