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Gladys Collins, 43, was among a group of conspirators at Cash Flow Partners LLC, a business consulting firm with offices in New York and New Jersey, who attracted loan applicants through online ads and seminars, U.S. Attorney Craig Carpenito said.
The crew then ginned up applications for loans, some insured by the FDIC, to make their customers “appear more financially viable than they actually were,” Carpenito said.
Collins accepted a deal from the government rather than go to trial.
U.S. District Judge Kevin McNulty set a March 8 sentencing date via teleconference Tuesday for her guilty plea to conspiring to commit bank fraud.
Three others -- Edward Espinal, Jennie Frias, and Raymundo Torres – also have pleaded guilty and are awaiting sentencing for their roles in the Cash Flow scheme.
Carpenito credited special agents of the FDIC-Office of the Inspector General (FDIC-OIG) and special agents of the FBI with the investigation leading to the pleas.
He asked that anyone with more information involving the case contact the FBI at 1-800-CALL-FBI (225-5324).
Assistant U.S. Attorneys J. Stephen Ferketic of Carpenito’s Opioids Unit and Ari B. Fontecchio of his Economic Crimes Unit are handling the case.
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