NEW YORK (AP) - A former Hoboken, New Jersey, City Council president has been convicted in a $7 million car loan scheme.
Christopher Campos was convicted by a Manhattan federal court jury Thursday of conspiracy and bank and wire fraud. Sentencing was scheduled for Sept. 20, when Campos could face up to 30 years in prison.
Prosecutors said Campos and co-conspirators fraudulently obtained millions of dollars in car loans in 2012 and 2013 to buy over 200 new cars based on false representations. The cars were then used as livery cabs. Prosecutors said most of the loans ultimately went into default.
The 40-year-old Campos, a councilman until 2007, now lives in Palisades Park, New Jersey.
Defense attorney Lee Vartan said Campos maintains his innocence and plans on vigorously pursuing all avenues of appeal.
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