Florida Man Pleads Guilty to $6 Million Bank Fraud Scheme Targeting Georgia Credit Union

Florida Man Pleads Guilty to Million Bank Fraud Scheme Targeting Georgia Credit Union

Heleonel Gonzalez, 48, of Miami Lakes, Florida, has pleaded guilty to orchestrating a $6 million bank fraud scheme against Peach State Federal Credit Union.

Fraudulent Scheme Uncovered

From January 2023 through January 2024, Gonzalez, the owner of Sharp Insurance Agency, Inc. in Miami Lakes, fraudulently obtained loans from P1 Finance, a division of Peach State Federal Credit Union that provides financing to commercial borrowers for insurance premiums.

According to court documents, Gonzalez fabricated Premium Finance Agreements and falsely claimed to have issued property and casualty insurance policies through his agency. He misrepresented that loan proceeds would pay for customer insurance premiums but instead diverted the funds for personal expenses.

Statements from Officials

“Gonzalez devised a lucrative scheme cloaked in fraud and deception to steal loan proceeds from Peach State Federal Credit Union for his personal gain,” said U.S. Attorney Ryan K. Buchanan. “This office will continue to work closely with law enforcement to investigate and prosecute those who engage in financial crimes that jeopardize the integrity of the U.S. financial system.”

“The FBI works hard to make sure greed like this doesn’t pay off and those who commit fraud are held accountable,” said Sean Burke, Acting Special Agent in Charge of FBI Atlanta. “The fraudulent scheme in this case harmed a Georgia business, costing it millions of dollars.”

Loan Details

On at least 20 occasions, Gonzalez submitted fraudulent documents to P1 Finance, claiming customers had authorized premium-financing loans. These misrepresentations led Peach State Federal Credit Union to transfer approximately $6 million to Gonzalez, funds the credit union would not have approved had it known the representations were false.