Former Member Jailed For BogusLoans

May 12, 2005, 1:00 a.m. EDT 1 Min Read

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FORT WAYNE, Ind. - (05/12/05) -- A former member of Peoples andEmployees FCU was sentenced to 33 months in prison and ordered topay almost $900,000 in restitution Tuesday for a phony loan schemeenabling him to take out that mount of loans using a falseidentity. Carnelle Rutledge used a false name, Social Securitynumber and address to obtain seven loans, almost all of them over$100,000, between February 2003 and June 2004. He pleaded guilty inFebruary to seven counts of aiding and abetting in bankfraud.

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