U.S. Woman Sentenced to 58 Months for $8 Million Bank Fraud, Arrested Years Later After Fleeing to South Korea

Odaily News The U.S. Department of Justice announced that Kwanghee Anh, a 46-year-old Dallas resident, was sentenced to 58 months in federal prison for her role in a multi-year bank loan fraud scheme and was ordered to pay approximately $8.34 million in restitution to the affected financial institutions.

Anh pleaded guilty on March 17 this year to one count of conspiracy to commit bank fraud. Prosecutors stated that between January 2014 and March 2016, Anh and her accomplices, while working at Preferred Marketing Group, fabricated numerous financial documents, including fake IRS W-2 forms, pay stubs, and employment records, to inflate clients' incomes, fabricate employment statuses, and help clients submit loan applications containing false information to lending institutions.

The investigation revealed that the fraud ring caused multiple lenders, including federally insured financial institutions, to issue at least $10 million in fraudulent loans and credit products, resulting in losses exceeding $8.3 million to the financial institutions.