‘Credit Line Millionaire’ Goes to Jail

     LOS ANGELES (CN) – A Denver man who calls himself “The Credit Line Millionaire” is in jail, charged with conspiring to defraud banks of hundreds of thousands of dollars, federal prosecutors said.
     Christopher Robert Wise, 34, was arrested last week at Los Angeles International Airport after arriving from Puerto Vallarta, the U.S. Attorney’s Office said in a statement.
     Wise was arraigned Thursday and pleaded not guilty to a four-count indictment.
     He is accused of conspiring to get hundreds of thousands of dollars of credit from Wells Fargo, City National and Union banks. One loan application was approved, giving him access to $175,000 in credit, prosecutors said.
     “The indictment alleges that Wise maintained a significant online presence, which includes his websites www.creditlinemillionaire.com and http://chriswise.com/, the U.S. attorney said. “Wise billed himself as a credit guru who could help clients obtain loans for their small- and medium-size businesses. Wise referred his clients to several co-conspirators who controlled Inland Empire companies and who promised to help acquire financing. …
     “According to the indictment, Wise spoke at a seminar where he told those in attendance that he was in the process of obtaining a $1 million line of credit – even though he had bad credit and his business did not qualify for a loan – by leveraging other people’s credit.”
     Wise is charged with conspiracy to commit bank fraud and three counts of making false statements to a financial institution. If convicted, he could be sentenced to up to 30 years in prison for each charge.
     Wise was still in jail Friday, prosecutors said. His trial has been set for Oct. 1.

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