WILLIAMSPORT, LYCOMING COUNTY (WBRE/WYOU) — Officials announced a Columbia County man was sentenced for submitting false small business and mortgage loan applications.
U.S. Attorney Gerard Karam said Matthew Mensinger, 49 from Berwick, was sentenced to time in prison for loan fraud charges.
Between November 2011 and June 2020, officials say Mensinger convinced family members and business owners to take out $690,000 in loans from his financial institution. Using his position as Chief Lending Officer at the bank, he then approved the loans.
According to court documents, people who took out the loans actually gave the money to Mensinger who was unable to qualify for the loans but promised he would pay them back.
Mensinger was sentenced to a year in prison and ordered to pay over $290,000 back to the financial institution. He was also ordered to serve 30 hours of community service.