Ex-Loan Officer Gets Two-Year Sentence For Lending Fraud
A former loan officer for Southland Credit Union was sentenced to two years in federal prison for loan fraud,
Ibell Abellon, 40, of La Crescenta, Calif., pled guilty to four counts of bank fraud on Dec. 9, 2002. In addition to the prison term,
Officials in the U.S. Attorney's Los Angeles office said from January 2000 to October 2001, Abellon funded 17 bogus loans
"The important thing is, our members suffered absolutely no loss from this," he said.
Fox said Abellon worked for Southland CU for approximately three years. He said she employed a variety of loan fraud schemes,
"I assured her we would uncover everything, and after a thorough, internal audit, we did," said Fox. "We then notified the proper
Judge Letts ordered Abellon to report to prison to begin serving her sentence May 30. She will serve five years on supervised