Three Arrested in $92,000 Loan Fraud Investigation

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Three suspects were arrested on February 17 in connection with an alleged loan fraud scheme involving Northeast Community Credit Union, according to the Elizabethton Police Department. The investigation determined that an individual had fraudulently used another person's identity in an attempt to obtain a loan totaling approximately $92,000.

Why it matters

Loan fraud can have serious financial and legal consequences for both the perpetrators and victims. This case highlights the importance of financial institutions and law enforcement working together to detect and prevent such crimes, which can undermine public trust in the banking system.

The details

The Elizabethton Police Department received information on February 10 from Northeast Community Credit Union regarding a possible loan fraud and immediately initiated an investigation in cooperation with the Johnson City Police Department. As a result of the investigation, police identified and arrested three suspects: Marquis Harris of Riverdale, Georgia; George King Jr. of New York, New York; and Michael Porter of the Bronx, New York. All three were charged with forgery, identity theft, and theft of property over $60,000-$249,999.

• On February 10, the Elizabethton Police Department received information from Northeast Community Credit Union regarding a possible loan fraud.
• On February 17, the three suspects were arrested.

What they’re saying

What’s next

The judge will determine whether to grant bail for the three suspects at a hearing on February 24.