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Couple sentenced for stealing $1.6 in bank fraud scheme

December 31, 2018

BURLINGTON, Vt. (AP) — A Vermont couple police say stole $1.6 million in loans through bank fraud have been sentenced to prison.

The Bennington Banner reports Alison Gu was sentenced Thursday in federal court to a year in prison. Matthew Abel was sentenced to six months. They were also ordered to pay restitution.

Gu was found guilty in November 2017 of multiple charges, including bank fraud and aggravated identity theft. Abel pleaded guilty to last year.

Prosecutors say they stole money from banks using fake mortgage loan applications. Investigators say they bought homes in Vermont, Connecticut, Massachusetts, Florida and Texas.

Abel’s attorney, Craig Nolan, said Monday his client took full responsibility and he was pleased the court ordered a lesser property forfeiture than prosecutors had requested.

Gu’s attorney didn’t return a call seeking comment.

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Information from: Bennington Banner, http://www.benningtonbanner.com

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