NJ Man Faces Up To 60 Years In Prison In Loan Fraud Case
Posted:
Updated:
PHILADELPHIA -
A New Jersey man faces up to 60 years in prison after the U.S. Department of Justice says he pleaded guilty Monday to two counts of loan fraud.
The Department of Justice says 67-year-old Robert Coyle, of Glassboro, owned and rented more than 300 properties in Philadelphia. Through the entities, he borrowed more than $3 million from one bank and more than $6.6 million from another.
According to investigators, the purpose of the loans was to refinance existing loans, make improvements on some of the properties and to consider additional real estate opportunities.
While the banks anticipated the loans would be repaid through rental income, it was later determined that Coyle did not hold good title for all of the properties he had pledged to the banks.
The Department of Justice says his sentencing hearing was scheduled for January. Along with facing a potential 60-year sentence, Coyle also faces $2 million in fines and restitution to the banks.
Sunday, May 19 2013 8:20 AM EDT2013-05-19 12:20:57 GMT
Finding a job without a college degree can be a difficult task, even if you're a war veteran. Now, they have the opportunity to turn their military training into college credits.
Finding a job without a college degree can be a difficult task, even if you're a war veteran. Now, they have the opportunity to turn their military training into college credits.
Sunday, May 19 2013 7:58 AM EDT2013-05-19 11:58:46 GMT
Once hailed as a hero after surviving a shotgun blast to his face in 2007, a former police officer is now charged with raping and sexually assaulting two women at gunpoint he met at a party.
Once hailed as a hero after surviving a shotgun blast to his face in 2007, a former police officer is now charged with raping and sexually assaulting two women at gunpoint he met at a party.
Sunday, May 19 2013 1:45 AM EDT2013-05-19 05:45:51 GMT
A Powerball jackpot-winning ticket worth an estimated $590.5 million was sold in Florida, but there were also million-dollar winners sold in Pennsylvania and New Jersey, according to the lottery.
A Powerball jackpot-winning ticket worth an estimated $590.5 million was sold in Florida, but there were also million-dollar winners sold in Pennsylvania and New Jersey, according to the lottery's website.
Saturday, May 18 2013 9:28 PM EDT2013-05-19 01:28:06 GMT
Rain moved in Saturday afternoon and the chance for it will stick around through the seven day forecast.
It becomes very unsettled across our area with clounds and showers again Sunday. The best chance for rain is in the morning and afternoon thunderstorms are possible towards our south.
Sunday is cool but we do warm up well into the 80s by Tuesday. With the warm weather comes a better chance for thunderstorms.
Friday, May 17 2013 11:44 PM EDT2013-05-18 03:44:01 GMT
A couple of Good Samaritans helped rescue a 3-year-old boy's lifeless body from an Allentown creek. Their quick thinking and help from police helped bring the boy back to life.
A couple of Good Samaritans helped rescue a 3-year-old boy's lifeless body from an Allentown creek. Their quick thinking and help from police helped bring the boy back to life.
Friday, May 17 2013 7:38 PM EDT2013-05-17 23:38:13 GMT
A woman who lived with a Delaware pediatrician accused of waterboarding her 11-year-old daughter has agreed to plead guilty to child endangerment charges and testify against him.
A woman who lived with a Delaware pediatrician accused of waterboarding her 11-year-old daughter has agreed to plead guilty to child endangerment charges and testify against him.
