"Janelle DeFreitas orchestrated a scheme to fraudulently obtain a $75,000 business loan from a bank by using another individual as a front to apply for funding."
"Between mid-2021 and early 2022, DeFreitas attempted to secure more than $400,000 in additional loans through multiple applications at different bank branches."
"In August 2021, one loan application was approved, resulting in a $75,000 deposit into a business account, which DeFreitas quickly withdrew for personal expenses."
"Authorities described the case as part of a broader effort to address financial fraud targeting lending institutions."
Janelle DeFreitas, 45, was sentenced to four to eight years in prison for grand larceny and criminal possession of a forged instrument. She fraudulently obtained a $75,000 business loan using another individual as a front and submitted falsified corporate records. Between mid-2021 and early 2022, she attempted to secure over $400,000 in loans, but most were denied due to irregularities. After one loan was approved, she quickly withdrew funds for personal expenses, leading to her arrest in December 2023.
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