Former Orange County Man Jailed for $2.5 Million Bank Fraud

A man who used to live in Orange County will spend years in jail following a $2.5 million bank fraud scheme.

Baldev Tal, aka David Tal, is the third man to be jailed for the scheme that involved dozens of fraudulent loans from banks and credit unions across the Northeast.

On Thursday in Southern District of New York Court, Tal was sentenced to four years in prison for conspiring to commit bank fraud.

Tal, formally from Orange County and currently from Oresfield, Pennsylvania, Shairful Mintu of Montgomery, and Binder Tal also formally Orange County and currently from Oresfield, Pennsylvania plead guilty to conspiring to commit bank fraud in March.

According to the prosecution, from 2007 until August 2015, the trio, and co-conspirators, illegally obtained over $2.5 million from dozens of loan applications and applications for lines of credit.

The loans were obtained by providing false information about their employment and income. The vast majority of the loans and lines of credit went into default. Millions of dollars were not repaid.

The prosecutions claims the money was used for the guilty parties to enrich themselves and their families. Some of the loaned money was used towards credit card debts, business expenses, and debts rising from other fraudulently obtained loans.

Previously, Binder Tal was sentenced to 30 months in prison and Shariful Mintu to one year and one day in prison for their roles in the fraud.