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Tuesday, 28 April 2009

Ashley Wynn, 28, of Virginia Beach, was sentenced today following her pleading guilty to conspiring to commit credit union fraud

Ashley Wynn, 28, of Virginia Beach, was sentenced today following her pleading guilty to conspiring to commit credit union fraud in federal court in January, the news release said. former finance manager of a used car dealership was sentenced to serve 33 months in prison for defrauding the Navy Federal Credit Union, a news release from the U.S. Attorney’s office for the Eastern District of Virginia said.According to court documents, Wynn was working as the finance manager for the Car Store, a now defunct used-car dealership that operated in Virginia Beach. As its finance manager, Wynn regularly obtained car loans for prospective car buyers from Navy Federal by fraudulent means, the news release said.
Specifically, Wynn would assist buyers with poor credit in obtaining financing by preparing false loan applications and documents, concerning a buyer’s income, expenses, employment and living arrangements, and then forwarding the applications to Navy Federal.From August 2007 through May 2008, the credit union made 61 car loans totaling more than $1.1 million that were fraudulently obtained through the Car Store. Navy Federal Credit Union and several insurance companies have suffered losses on these loans totaling more than $500,000, the news release said.

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