- Associated Press - Friday, July 25, 2014

SAN FRANCISCO (AP) - A former FBI employee and his wife have pleaded guilty to bank fraud, admitting that they scammed two financial institutions out of more than $80,000.

The U.S attorney’s office says 61-year-old Charles Espinel and his wife, 58-year-old Jeannette Espinel, entered their pleas Thursday in San Francisco.

They admitted that they defrauded First California Bank and Wells Fargo Bank in connection with mortgage loans they received to buy a $750,000 rental property in Daly City and a $600,000 rental property in San Bruno.

The husband further admitted that he lied to the FBI to maintain a top-level security clearance. Espinel worked for the agency for 32 years, most recently as a support services technician.

The maximum sentence for bank fraud is 30 years in prison and a $1 million fine. The Espinels are scheduled to be sentenced on Nov. 12.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide