Generose Casiano Yambao, Bank Fraud, California 2020

Grimy Times has learned that Generose Casiano Yambao, a 41-year-old Susanville woman, has been sentenced to 27 months in prison for her role in a bank fraud scheme.

According to prosecutors, Yambao pleaded guilty to one count of bank fraud and one count of making false statements on a loan application in connection with a scheme to defraud a Santa Rosa credit union.

The scheme, which was uncovered by the FBI, involved Yambao mailing a Member Business Loan Application to the credit union in an attempt to obtain a $49,500 loan for an existing company.

However, the application was made in the name of one company that purportedly was doing business under the name of another company, and Yambao represented that she was the managing partner and co-owner of one of the companies, despite not having authorization or permission to act on behalf of either company.

The credit union detected that the application was fraudulent after discovering that it was mailed from a county jail where Yambao was serving a sentence for a prior offense.

Yambao was sentenced to 27 months in prison, as well as three years of supervised release, to begin after the prison term ends. She is also required to surrender to the Bureau of Prisons on or before February 15, 2021, to begin serving her prison term.

Assistant U.S. Attorney Daniel Pastor is prosecuting the case with the assistance of Marina Ponomarchuk. The prosecution is the result of an investigation by the FBI with assistance from the Contra Costa County Sheriff’s Office.

Defendant information:

Defendant: Generose Casiano Yambao

Exact criminal charges: Bank fraud (18 U.S.C. § 1344(1)) and making a false statement on a loan and credit application (18 U.S.C. § 1014)

City and state: Susanville, California

Exact date of sentencing: Not specified

Sentence or outcome: 27 months in prison, three years of supervised release

Dollar amounts where applicable: $49,500

Source: https://www.justice.gov/usao-ndca/pr/susanville-woman-sentenced-more-two-years-prison-bank-fraud-and-related-offense