New Bern, N.C. – Jamal Watson, 42, has been sentenced to 51 months in federal prison for a brazen bank fraud scheme that targeted financial institutions across North Carolina.
According to court documents, Watson had only recently been released from federal prison after serving a sentence of 121 months for Distribution of Heroin and Possession of Firearm by a Felon when he embarked on his latest criminal endeavor. He and an accomplice, along with his wife, applied for loans totaling over $300,000 to purchase 20 vehicles from various dealerships throughout the state.
Watson initially used his own social security number but provided false employment details. After two of the vehicles were repossessed due to non-payment, Watson and his wife resorted to using fake social security numbers and fictitious employment information. To further obfuscate their activities, Watson also presented a fraudulent North Carolina driver’s license with a false Durham address.
In addition to serving 51 months in prison, the Court has ordered Watson to pay restitution to the victims and forfeit the $297,323.36 he obtained from the loan used to purchase a Maserati from a Charlotte dealership.
Robert J. Higdon, Jr., U.S. Attorney for the Eastern District of North Carolina, announced the sentence after it was handed down by U.S. District Judge Louise W. Flanagan. The investigation into Watson’s scheme was conducted by the United States Postal Inspection Service, with Assistant U.S. Attorney Susan Menzer handling the prosecution.
A full press release and related court documents can be found on our website, as well as the U.S. District Court for the Eastern District of North Carolina’s site or PACER by searching for Case No. 5:19-cr-00261-FL.
RELATED: KC Four Held for Gunpoint Kidnapping of Two
Related Federal Cases
- Ricky Costello Williams Sentenced in Tax Fraud Scheme · North Carolina
- Frank Alton Moody II Pleads Guilty to $2M Payroll Fraud Scheme · North Carolina
- Jamel ‘Goo’ Yates Gets 3 Years in $1.3M Wire Fraud Scheme · North Carolina
- Joseph Hal Kinlaw Jr. Gets 17 Years for $23M Bank Fraud · North Carolina
- Wallace Couple Busted in $3M Tax Fraud Scheme · North Carolina
Key Facts
- State: North Carolina
- Agency: DOJ USAO
- Category: Drug Trafficking|Fraud & Financial Crimes|White Collar Crime
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News