May 10--The former owner of a Fort Lauderdale-based consulting company has pleaded guilty to bank fraud, U.S. Attorney Wifredo Ferrer announced.
Henry Fecker III, 60, of Ft. Lauderdale, was the owner of Camden Consulting, Inc., a shell company used by Mutual Benefits Corporation to receive funds from a massive Ponzi scheme between 1994 and 2004, evidence showed.
Fecker secured a $1.5 million bank loan from Washington Mutual Bank in the form of a cash-out refinance of a waterfront vacation house in Camden, Maine. Fecker and his accomplices used $487,801 of the bank loan to support a lavish lifestyle, according to court documents.
Fecker lied on the bank loan application claiming he earned a monthly salary of $102,083, and that he had been the President of Camden Consulting for 11 years, documents showed.
He also provided a false address for his home and business, but Camden Consulting was never a real company, had no real business, and Fecker had been unemployed since about 1996, prosecutors said.
Fecker is scheduled to be sentenced in July.
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