Former Wells Fargo Banker Pleads Guilty for Helping Fake Movie Producers
A former Wells Fargo banker pled guilty today for his involvement in a fake $60 million movie producing scam.
Benjamin Rafael admitted his role in the sophisticated fraud scheme during a change-of-plea hearing. Rafael pleaded guilty to one count of conspiracy to commit wire fraud. Rafael faces a maximum possible sentence of twenty years in prison.
The former Wells Fargo banker assisted Benjamin McConley and Jason Van Eman who held themselves out as film producers and financiers.
The indictment charges that McConley and Van Eman promised the victims that they would match the victims’ cash contribution. As a result, they would then use the combined funds to secure financing from financial institutions in South Florida and elsewhere.