Catoosa woman sentenced for fraudulently applying for $1 million in loans
TULSA, Okla. (KTUL) — A Catoosa woman who defrauded banks and credit unions through a complex scheme involving falsified loan applications and lien releases was sentenced Friday in federal court.
Pamela Kathryn Conley, 60, was sentenced to 54 months in federal prison followed by three years of supervised release.
She was also ordered to pay $451,065.64 in restitution.
In September of 2021, Conley pleaded guilty to 24 counts of bank fraud and four counts of aggravated identity theft.
As part of her scheme, Conley falsified and submitted documents to apply for approximately one million dollars in loans, securing more than $800,000 in loan proceeds.
This gave Conley assess to cash, boats, and cars to support her lifestyle.
Conley had submitted forged earning statements suggesting that she held high-level positions at various companies and earned an annual salary of approximately $200,000.
Her claims were all provably false.
Sometimes, lying on applications was the full extent of Conley's fraud, but on other occasions, when loans were secured with collateral, Conley forged fictitious lien releases for bank collateral using the notarized signature of bank or credit union employees.
Conley caused the bogus lien releases to be filed with the Oklahoma Tax Commission. This allowed her to obtain a clear title to the collateral without paying off her loans.
This aspect of her scheme gave rise to the aggravated identity theft counts alleged in the indictment.