Rochester Man Pleads Guilty to Loan Application Fraud

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ROCHESTER, NY—U.S. Attorney William J.Hochul, Jr. announced today that David P. Gaylord, 51, of Rochester, New York,pleaded guilty to bank loan application fraud before the U.S. District JudgeCharles J. Siragusa. The charge carries a maximum penalty of 30 years in prisona fine of $1,000,000.
Assistant U.S. Attorney Tiffany H. Lee,who is handling the case, stated that in 2006, while residing in the WesternDistrict of New York, the defendant submitted various credit card applicationsto Advanta Corp., Bank of America, and Family First Federal Credit Union.Gaylord knowingly provided false information regarding his income in order toobtain lines of credit from the banks and credit union. The defendant indicatedthat his income was anywhere between $90,000 to $122,000 when, in 2006, hereported to the Internal Revenue Service that his income was approximately$12,488. Gaylord ended up leaving outstanding balances on the various lines ofcredit and filed for bankruptcy.
The plea is the culmination of aninvestigation on the part of special agents of the Federal Bureau ofInvestigation under the direction of Special Agent in Charge Christopher M.Piehota.
Sentencing is scheduled for September24, 2012 at 4 p.m. before the Judge Siragusa.