PHILADELPHIA, PA — A former Philadelphia Deputy Sheriff Officer pleaded guilty Tuesday to bank fraud after federal prosecutors said he used forged paystubs and inflated income claims to secure more than $145,000 in loans he never repaid.
U.S. Attorney David Metcalf announced that Darryl T. Wells, 34, entered the plea before U.S. District Judge Joel H. Slomsky. Wells was charged by indictment in January.
According to court filings, Wells submitted eight fraudulent loan and credit applications to multiple financial institutions in December 2018 and January 2019 while working for the City of Philadelphia. Prosecutors said he repeatedly misrepresented his monthly income and, in some cases, attached fabricated paystubs to bolster the lie.
Once the loans were approved, Wells immediately spent or transferred the proceeds, leaving lenders with the losses.
Wells now faces a maximum of 30 years in federal prison, five years of supervised release, and a potential $1 million fine. Sentencing is scheduled for March 3.
The case was investigated by the FBI and is being prosecuted by Assistant U.S. Attorney Samuel Dalke.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.