Rancho Cordova Man Pleads Guilty To Bank Fraud Charges

According to Acting U.S. Attorney Lawrence Brown, a Rancho Cordova man, Huyen Le, 35, has pleaded guilty to charges of bank fraud and structuring.

Le has admitted using other people’s credit cards and using his own business’s merchant accounts to force transactions exceeding the cards’ credit limits, according to Special Assistant U.S. Attorney Jean Hobler, who is prosecuting the case. Hobler say that Le attempted transactions totalling more than $1 million. He was successful in stealing more than $360,000 from various banks that issued the cards. Le admitted in court on Monday that his actions resulted in $660,000 in losses to federally insured financial institutions.

He is scheduled to be sentenced by U.S. District Judge Frank Damrell Jr. on July 27. The maximum statutory penalty for bank fraud is 30 years in prison, a fine, or both. For structuring, the maximum penalty is 10 years in prison, a fine, or both.

Le is scheduled to be sentenced in federal court in Sacramento on July 27.