- Associated Press - Tuesday, September 30, 2014

LOUISVILLE, Ky. (AP) - The one-time owner of an Orange County, California mortgage lending company has been charged with defrauding two banks of $12 million by submitting fake funding requests for nonexistent loans.

A federal grand jury in Louisville, Kentucky handed up the indictment of 49-year-old Brady Bunte on Tuesday on a charge of bank fraud. Grand jurors say Bunte submitted 53 fraudulent requests through his company, Trust One Mortgage, to National City Bank and PNC Bank.

Grand jurors said the scheme ran from March 2007 through November 2008.

National City Bank’s warehouse lending operations were located Kentucky. PNC acquired National City Bank.

Bunte was charged in a sealed indictment on Sept. 18, 2014. He was arraigned Monday in U.S. District Court in Santa Ana, California, and was released on a $100,000 bond.


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