Rio Rico Man Sentenced For Bank Fraud

justice money

A Rio Rico man, Juan Diego Ibanez, was sentenced to 15 months in prison after being sentenced in a bank fraud case involving a Yuma-based bank.

Hie prison sentence will be followed by five years of supervised release.

According to the Department of Justice, in 2017, Ibanez provided fraudulently-created documents to 1st Bank Yuma and received $690,000 in loan proceeds based on the false documents. Upon learning of the fraud, the bank immediately investigated the illegal conduct and reported it to the Federal Bureau of Investigation (FBI).

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