Flint man gets federal prison time for defrauding banks of $201K to buy 15 vehicles

BAY Town, MI — A Flint guy has been despatched to federal jail for defrauding Michigan financial institutions and credit history unions of 6 figures, dollars which he employed to acquire far more than a dozen vehicles.

U.S. District Judge Thomas L. Ludington on Wednesday, June 29, sentenced 41-calendar year-outdated Eddie E. Hendrickson to 37 months in prison. At the time he serves his phrase, Hendrickson is to be on supervised release for an supplemental 3 decades.

The volume of restitution Hendrickson owes his victims is yet to be decided, with a hearing to that end slated for July 19.

Hendrickson in March pleaded responsible to conspiracy to commit money institution fraud, a felony punishable by up to 30 years in jail and a $1 million great.

The plea arrangement states that in between December 2019 and February 2020 Hendrickson and another unnamed particular person devised a scheme to defraud several financial institutions and credit unions. To do this, Hendrickson acquired the Social Protection selection of a person who experienced a equivalent title as his possess.

Hendrickson then used this pilfered Social Security quantity to receive loans which he then used to finance the order of off-street autos, motorcycles, and trucks.

In all, Hendrickson fraudulently acquired $201,080.02 in loans from financial institutions in Saginaw, Bay, Livingston, Wayne, and Jackson counties. He then utilized this funds to invest in 15 cars.

Hendrickson and his cohort kept the vehicles, marketed them, gave them away, or normally disposed of them, the plea agreement states.

In a sentencing memorandum, defense legal professional Haralambos D. Mihas wrote Hendrickson was in the throes of dependancy to crack cocaine and alcoholic beverages in the wintertime of 2019.

“It was at this stage that ‘Person A convinces Eddie to be a part of a scheme to defraud banks and lending establishments so they could obtain off-road motor vehicles, motorcycles and automobiles,” Mihas wrote. “For his element, Eddie gained pennies on the bucks. As much as he was victimizing the lending institutions, he was also a victim. Individual A applied Eddie to acquire all the risk when he took all the funds and/or the cars. The minimal quantities of funds he was supplied, Eddie put in to gasoline his addictions.”

A federal complaint was sworn towards Hendrickson on Aug. 13, 2021. The complaint lists 10 dates of Hendrickson’s alleged crimes, the 1st currently being Dec. 23, 2019.

On that day, Hendrickson made use of the stolen Social Safety range and driver’s license to apply for an auto personal loan at Bay Cycle Income in Bangor Township. The mortgage was granted for two Honda motorcycles, totaling $21,000.36 in reduction.

Hendrickson recurring this tactic nine extra periods.

On March 20, a Genesee County Sheriff’s lieutenant contacted the human being whose Social Safety amount Hendrickson was allegedly making use of. This person has a name very similar to Hendrickson’s but informed the lieutenant he had never authorized any person else to use his identification or Social Stability quantity, the Solution Assistance agent wrote.

Getting been arrested on unrelated rates, Hendrickson on April 7, 2020, was interviewed by the Genesee County Sheriff’s lieutenant and a Top secret Services special agent.

“Hendrickson admitted to collaborating in a scheme to receive motor vehicles fraudulently,” the agent wrote. “He admitted to buying the vehicles up from the dealerships and bringing them again to his residence.”

In July 2020, the two Dodge Chargers acquired by Hendrickson in January were tracked to a Flint handle. A gentleman at this spot explained to authorities he was storing them for Hendrickson, the agent wrote.

The lending institutions further more informed authorities no payments had been created on any of the loans, resulting in a overall reduction on every single mortgage.

Examine more:

Flint man pleads to defrauding banks of $201K to obtain 15 vehicles

Flint gentleman made use of stolen Social Safety number to obtain $201K and purchase 15 automobiles, feds allege