Matthew Amato, 31, Philadelphia, Pennsylvania, was charged in an criminal Information with one count of making false statements to banks. Amato allegedly made false claims to influence lenders to approve his loan application.
According to the Information, from July 11, 2005 to August 9, 2005, Amato knowingly made and caused to be made false statements to Wachovia Bank, PNC Bank, and Sun National Bank for the purpose of influencing the actions of the banks upon lines of credit for which the defendant had applied.
The defendant allegedly falsely claimed to be the sole proprietor and Chief Executive Officer of Chaka Fattah, Jr. & Associates, an existing business entity which previously had earned revenue, and falsely claimed that he would use the proceeds of the commercial loans for the working capital and business purposes of CFJA, as required under the terms of the loans.
If convicted, Amato faces a maximum possible sentence of 30 years’ imprisonment, five years’ supervised release, a $250,000 fine, and a $100 special assessment.
United States Attorney Zane David Memeger announced the charges.
The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service is being prosecuted by Assistant United States Attorney Paul L. Gray