A California man has been scheduled to plead guilty before a federal judge in Pittsburgh in a nationwide automobile loan fraud scheme that Secret Service discovered last year.
Alex K. Philip is a San Francisco-area man charged with soliciting straw purchasers and then lying about their creditworthiness so he could obtain auto loans, which he allegedly spent on other items.
Among other things, federal prosecutors say Philip faked tax and wage documents and used vehicle identification numbers from cars that were never really for sale as collateral to get the loans.
Federal prosecutors say banks and credit unions in various states lost between $1 million and $2.4 million in the scheme, including Erie Federal Credit Union and Erie Community Credit Union in northwestern Pennsylvania.
That's why the case was prosecuted in Pennsylvania. Philip's plea was scheduled for Friday.
