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Trini pleads guilty to million dollar bank fraud in USAleem Khan Jul 4, 2018 Updated Jul 4,

7/6/2018

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​A Trinidadian man pleaded guilty to bank fraud involving numerous home equity line of credit loans today in the United States of America, the U.S. Department of Justice said in a statement yesterday.
The Justice Department statement said: "Garth Anthony Gardner, 49, a citizen of the Republic of Trinidad & Tobago, has pled guilty to charges involving a scheme in which he made misrepresentations to apply for and obtain more than US$3 million in multiple home equity line of credit loans."
The announcement was made by U.S. Attorney Jessie K. Liu and Acting Special Agent in Charge Kelly R. Jackson of the Internal Revenue Service Criminal Investigation (IRS-CI) Washington D.C. Field Office.
Gardner pled guilty on July 2, 2018, in the U.S. District Court for the District of Columbia, to two counts of bank fraud. Each charge carries a statutory maximum of 30 years in prison and potential financial penalties. Under federal sentencing guidelines, he faces an estimated range of 51 to 63 months in prison and a fine of up to US$100,000. The plea agreement calls for him to pay US$3,165,294 in restitution to 24 financial institutions. It also calls for him to pay a forfeiture money judgment in the amount of US$2,048,446.
U.S. Judge Christopher Cooper scheduled sentencing for September 24, 2018.
According to the government’s evidence, in October 2003, Gardner purchased a property in the 5100 block of 13th Street NW, using the Social Security number of another person and falsely representing himself as a U.S. citizen.
The Justice Department said: "In May 2005, he used a corporation that he owned to purchase a second property in the 1300 block of Dexter Terrace SE. Gardner transferred ownership of the second property from the company to himself for US$10. Next, Gardner applied for a series of home equity line of credit loans using the two properties as collateral."
By settling these loans in close proximity to each other, Gardner minimized the banks’ ability to learn about the other loans. From August to October 2004, Gardner obtained 12 home equity line of credit loans from 12 different banks secured by the 13th Street property, totaling approximately US$1.4 million.
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Between March and April 2006, Gardner applied for 13, and obtained 12, such loans from 12 banks, secured by the Dexter Terrace property, totaling approximately US$1.9 million, the Justice Department said.
Around February 2008, Gardner stopped making payments and defaulted on all of the loans. "The banks discovered Gardner’s fraudulent conduct after initiating foreclosure proceedings on the properties," the Justice Department said.
Gardner admitted that he used a portion of the proceeds from the fraudulent scheme to purchase 15 silver bars, which the government recovered and liquidated for about US$1.1 million.
Gardner was arrested in Frankfurt, Germany in May 2017, and was extradited to the District in February 2018, to face the charges that had been pending since 2014. He remains in custody pending his sentencing.
In announcing the plea, U.S. Attorney Liu and Acting Special Agent in Charge Jackson commended the work performed by those who investigated the case from the Internal Revenue Service-Criminal Investigation. They also expressed appreciation for the assistance provided by the Washington Field Office of the U.S. Secret Service and the Office of the Inspector General of the Social Security Administration. They acknowledged the efforts of those who worked on the case from the U.S. Attorney’s Office, including Assistant U.S. Attorneys Michelle Bradford, David A. Last, Diane Lucas and Denise A. Simmonds, and Paralegal Specialist Aisha Keys.
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  • HOME
    • About >
      • TTAO EXECUTIVE 2021-23 >
        • Executive Archives 2018-2019
        • Executive Archives 2017 - 2018 >
          • Past Presidents of the TTAO
        • TTAO PROJECTS
        • Chaconia newsletters >
          • 2019 issues
        • Membership form
        • 2025 SCHOLARSHIPS OFFERED AND CALL FOR APPLICATIONS >
          • 2024 Scholarship Winners >
            • 2023 Winners
            • SCHOLARSHIP WINNERS 2014 - 2022
            • 2018 Winners of CLR James Scholarship
  • PHOTOS
    • 2025 >
      • Photo Arhives >
        • 2024 >
          • 62nd independence day celebration
          • Jamaica vs Trinidad comedy battle and food festival
          • Children's carnival 2024
        • 2020 >
          • Photos - Carnival 2020
        • 2019 >
          • Republic day, Sept 21, 2019
          • Trinbago Day August 2019
          • Carivibe 2019
          • Night at the Races 2019
          • Indian Arrival/African Caribbean Emancipation dinner 2019
          • Hero the movie April, 2019
          • Farewell to Vanessa Ramhit-Ramproop
          • Carnival 2019
          • National Disaster Flood Relief for TT
      • 2018 >
        • Community Builder Award >
          • C hildren's Christmas party 2018
          • Parang, Nov. 2018
          • Ottawa Food Bank 2018
          • Presentation to TTAO President
          • Trinbago Day, Aug 19, 2018
          • Health and Wellness Seminar(s) 2018
          • T&T Carnival 2018
          • Calypso Rose Jan 2018
        • 2017 >
          • Inspiration Village June 17, 2017
          • Photos Post Carnival Fete March 25, 2017
          • Photo archives
          • Childrens Christmas party 2017
          • 55th Independence Day Gala
          • Canada 150 Celebration/Trinbago Day >
            • TrinbaGold 2012 >
              • Carnival 2012
          • Folklarama 2017
          • Day at the Races June 22nd
          • Indian Arrival Day & Emancipation Celebration June 10, 2017
          • Photos - Carnival 2017
          • Activities of the TTAO in the 80's and 90's
        • 2016 >
          • Children's Christmas Party 2016
          • Trinbago Day 2016
          • TTAO All Inclusive Party 2016
          • GM June 2016
      • 2015 >
        • Children's Christmas Party 2015 >
          • Christmas 2011
      • Videos >
        • Indian Arrival Day & Emancipation Celebration June 10, 2017
        • 40 YEARS OF TTAO
        • Children's Christmas Party 2018
        • Trinbago 2014
        • Trinbago Day 2017
        • Children's Christmas Party 2016
        • Trinbago Day 2016
        • Soca Parang Lime Nov 27, 2016
  • News & Info
  • More
    • Job Opportunities
    • Local trini restaurants
    • Letters of Appreciation
    • National Disaster T&T
    • Our country
    • Trini movies/videos
    • Trini books/authors
  • Contact Us