Feds charge Boeing VP, 7 others in Pa. loan scam

By Associated Press

Summary

A former Boeing Helicopters executive is being charged in a loan kickback scheme based at a suburban Philadelphia plant. Federal prosecutors say Anthony Forte used his job as a vice president with Boeing's credit union to obtain $1,000 kickbacks.

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Story Published: Sep 5, 2008 at 8:33 AM PST

Story Updated: Nov 21, 2008 at 12:45 AM PST

PHILADELPHIA (AP) - A former Boeing Helicopters executive is being charged in a loan kickback scheme based at a suburban Philadelphia plant.

Federal prosecutors say Anthony Forte used his job as a vice president with Boeing's credit union to obtain $1,000 kickbacks on $20,000 loans given to unqualified applicants.

They say Forte recruited his brother, co-defendant David Forte, and several others to seek out more than 120 applicants for loans totaling more than $2.5 million.

The Fortes were charged Thursday with conspiracy, loan fraud and bank bribery.