Darryl T. Wells, a former Deputy Sheriff Officer with the City of Philadelphia, pleaded guilty to bank fraud in federal court on Tuesday. The announcement was made by United States Attorney David Metcalf. Wells, 34, admitted to submitting eight fraudulent loan and credit applications to financial institutions during December 2018 and January 2019.
According to court filings, Wells falsely overstated his monthly income on these applications and, in some cases, provided forged paystubs as supporting documents. The total amount he received through this scheme was $145,000. The funds were either spent or transferred by Wells and were not repaid to the financial institutions involved.
Wells was charged by indictment in January of this year. He is scheduled for sentencing on March 3 and could face up to 30 years in prison, five years of supervised release, and a fine of $1 million.
United States Attorney David Metcalf stated: “Wells submitted eight fraudulent loan and credit applications to financial institutions in which he falsely and materially overstated his monthly income and, in some instances, attached forged paystubs.”
The case was investigated by the FBI and is being prosecuted by Assistant United States Attorney Samuel Dalke.
