Clarksville Auto Dealer Accused of Bank Fraud and Falsifying Loan Documents in Federal Court

Clarksville Auto Dealer Accused of Bank Fraud and Falsifying Loan Documents in Federal Court

According to a federal court filing Thursday, an automobile dealer found guilty of bank fraud stemming from falsifying loan information and defrauding several credit unions.

U.S. Attorney Andrew Oliver, 31, of Cadiz, Kentucky, was charged in a scheme that involved obtaining loans from multiple financial institutions for the purchase of the same vehicle, according to charges announced by US Attorneys. Middle District of Tennessee attorney Mark H. Wildasin.

In charge for the offense, Oliver allegedly inflated his income on loan application documents and failed to disclose that he had already received loans regarding the same vehicle from other financial institutions, according to an announcement from the United States District Attorney for the Middle District of Tennessee.

Specifically, the press release alleges that Oliver obtained loans totaling $215,000 from three separate credit unions to purchase the same Cadillac.

The news release continued that the fraudulent loans caused the credit unions to lose an additional $368,585.52 from the fraudulent loans for the purchase of a Ford F-450 totaling $340,000 he obtained from six credit unions.

He said he didn't have any comments on the charges when contacted by Clarksville Now.

If convicted, she'll get 30 years in prison and a $1 million fine. A money judgment in the amount of $368,585.52 was also sought by the U.S., resulting in a forfeiture of any property derived from the proceeds of the crime.

The FBI investigated this case and U.S. Assistant Attorney Kathryn W. Booth is prosecuting it.