LOS ANGELES (CN) – Calling her “truly a greedy, awful person,” a federal judge Monday sentenced a Corona woman to 79 months in prison for defrauding people and a bank of $15 million in her high-end blue jean company.
Carolyn Marie Jones, 52, sold expensive blue jeans through her company DDI aka Diamond Decisions Inc., on the Privacywear and PRVCY Premium labels.
She got an $8.5 million line of credit – later goosed to $15 million – from Union Bank, through a fraudulent loan application using someone else’s Social Security number, bogus tax returns that never had been failed, and imaginary financial statement from DDI, according to the U.S. attorney.
When the bank sued her for defaulting on the loan, she filed for bankruptcy, lied to the bankruptcy trustee, concealed at least $120,000 in assets, and spent some of it on herself, prosecutors said.
She pleaded guilty in February to bank fraud and to concealing assets in bankruptcy.
U.S. District Judge Michael Fitzgerald, who called her a greedy and awful person, also ordered her to pay $15,124,100 in restitution. Under her plea agreement, she also had to say she was sorry.
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