Ex-Mirae Bank Executive Sentenced to More than 5 Years in Prison for Loan Fraud that Caused Large
LOS ANGELES – The former chief marketing officer at the now-defunct Mirae Bank was sentenced today to 70 months in federal prison for his role in a scheme that caused the Koreatown-based lender to issue more than $15 million in fraudulent loans, and ultimately caused the bank to suffer severe losses.
Ataollah Aminpour, 60, of Beverly Hills, was sentenced today by United States District Judge Dale S. Fischer, who also ordered Aminpour to pay $7,519,084 in restitution. Judge Fischer then remanded Aminpour, who had been on bond, into federal custody to begin serving his sentence immediately.
Aminpour, who is also known as John and Johnny Aminpour, pleaded guilty in December 2017 to one felony count of making a false statement to a financial institution.
According to court documents, Aminpour held himself out as a successful businessman who could help people obtain financing for gas station and car wash businesses with little or no down payment. In some instances, Aminpour would identify a business for the borrower to purchase, and would negotiate the sales price. On the commercial loan applications that Aminpour would submit to the bank on behalf of the borrower, however, Aminpour would overstate the actual purchase price of the business, thereby causing the bank to issue inflated loan amounts that were not fully secured.
Read more: https://www.justice.gov/usao-cdca/pr/ex-mirae-bank-executive-sentenced-more-5-years-prison-loan-fraud-caused-large-losses