Dealer Admits to Defrauding Credit Union Featured

By Staff Writer May 09, 2018

A Louisiana car dealer was sentenced to 15 months in prison for defrauding a local credit union out of $177,000.

Larry Wayne Toms Jr. was sentenced on one count of bank fraud. He was also sentenced to five years of supervised release and was ordered to pay $161,066 restitution.

According to his guilty plea, Toms submitted fraudulent loan applications for the purchase of three cars at his Bossier City store in the summer of 2015.

The Post Office Employees Federal Credit Union in Shreveport disbursed $177,000 to Toms. The three vehicles listed in loan applications did not exist.

Last modified on Wednesday, 09 May 2018 23:58

Please publish modules in offcanvas position.