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A Lawrence man has pleaded guilty to participating in a wide-ranging conspiracy to defraud financial institutions in several states, including Massachusetts credit unions.
Hiancarlos Mosquea-Ramos, 28, pleaded guilty on Tuesday in Providence federal court to participating as the seller or the buyer of used vehicles in schemes that defrauded seven Massachusetts-based credit unions, according to a statement from the Rhode Island U.S. attorney’s office. Mosquea-Ramos was one of nine people indicted by a federal grand jury last July for allegedly participating in the schemes.
The credit unions Mosquea-Ramos admitted to defrauding were Merrimack Valley Credit Union, Sharon Credit Union, Digital Federal Credit Union, Chelsea-based Metro Credit Union, Needham-based Direct Federal Credit Union, Waltham-based RTN Credit Union and Fitchburg-based Workers Credit Union, according to the statement.
Mosquea-Ramos admitted that he used his own personal identification information along with counterfeit earnings statements, fabricated automobile purchase and sales agreements, and counterfeit motor vehicle titles to obtain at least $92,000 in fraudulent loans to purchase fictitious cars, the U.S. attorney’s office said. A co-conspirator, Jonathan A. Pimental, 29, of Lawrence, was allegedly listed as the seller of the cars.
Mosquea-Ramos also admitted to posing as the seller of various used cars. Another co-conspirator, Rolando E. Estrella, 33, of Lawrence, allegedly prepared false purchase and sales agreements and counterfeit automobile titles naming Mosquea-Ramos as the seller of the vehicles.
Financial institutions approved a total of more than $275,200 in used car loans, disbursing checks made payable to Mosquea-Ramos. The checks were quickly deposited, and the funds quickly withdrawn and divided among participants of the conspiracy, the statement said.
Mosquea-Ramos pleaded guilty to conspiracy to commit bank fraud and is scheduled to be sentenced on June 1.
Pimental is awaiting trial on a charge of conspiracy to commit bank fraud. Estrella is awaiting trial on multiple charges of conspiracy to commit bank fraud, bank fraud, aggravated identity theft and fraudulent use of a social security number.
