Medford Man Accused of Making False Statements to Obtain Loans
Tuesday, July 23rd, 2013 -- 8:17 AM
-A Medford man has been accused of making false statements to financial institutions in order to obtain loans.Michael Kraus, age 63, was charged with 16 counts of the crime by a federal grand jury.
According to the prosecutor, Kraus is accused of making false statements to eight financial institutions in loans he obtained and falsely listing his total liabilities on an ?individual financial statement? document.
Kraus could face 30 years in prison for each count he?s convicted of meaning he could receive a maximum sentence of 480 years in prison.
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