Laplace man pleads guilty to $400k bank fraud scheme involving fake car loans and stolen identities
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LaPlace man pleads guilty to $400K bank fraud scheme involving fake car loans and stolen identities

by
August 12, 2025

NEW ORLEANS, LA – A 40-year-old LaPlace man admitted to orchestrating a years-long bank fraud scheme that involved fake car loans, fraudulent documents, and stolen identities totaling more than $400,000 in losses to multiple credit unions.

Ernest X. Taylor, Jr. pleaded guilty on August 6 to one count of bank fraud in federal court, Acting U.S. Attorney Michael M. Simpson announced Monday. The scheme, which ran from 2019 through 2022, involved Taylor applying for auto loans using other individuals’ names, submitting falsified vehicle titles and pay stubs, and pocketing the funds.

According to court records, Taylor deceived the credit unions by falsely claiming the loan proceeds would be used to purchase vehicles. In reality, the funds went directly to Taylor, and he ultimately defaulted on the loans.

The guilty plea was entered under Title 18, U.S. Code Section 1344(2), which criminalizes knowingly executing a scheme to obtain bank funds through false or fraudulent means.

A sentencing date has not yet been set.

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Key Points

  • Ernest X. Taylor, Jr. pleaded guilty to executing a $400,000 bank fraud scheme involving fake car loans
  • Taylor used stolen identities and fraudulent documents to obtain the funds from credit unions
  • The scheme ran from 2019 to 2022, and Taylor defaulted on the loans
Phil Stilton

Phil Stilton

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