Current:Home > NewsThe New Jersey developer convicted with Bob Menendez pleads guilty to bank fraud -OceanicInvest
The New Jersey developer convicted with Bob Menendez pleads guilty to bank fraud
View
Date:2025-04-17 08:26:19
NEWARK, N.J. (AP) — A New Jersey real estate developer convicted alongside Democratic Sen. Bob Menendez this summer pleaded guilty to a separate bank fraud charge, prosecutors said Thursday.
Fred Daibes, 67, entered the plea in U.S. District Court in Newark, the U.S. Attorney’s office said in a statement. He was charged with making false statements concerning a 2008 loan.
While Daibes was chairman and CEO at Mariner’s Bank, he falsely said another person was the borrower on a $1.8 million loan when in fact the line of credit was for him, prosecutors said.
The charges carry a maximum penalty of 30 years in prison and a top fine of $1 million.
Daibes, Menendez and a third businessman, Wael Hanna, were convicted in July on bribery charges stemming from what prosecutors said was a scheme in which the three-term senator took cash, gold bars and a car in exchange for helping them. Another businessman, Jose Uribe, pleaded guilty, while attorneys for Menendez, Hana and Daibes plan to appeal.
Nadine Menendez, the senator’s wife, was also charged and pleaded not guilty but has yet to go on trial.
Prosecutors had initially charged the developer in 2018 over the loan fraud. Prosecutors on the bribery case said the senator met with Philip Sellinger, a prospective U.S. Attorney for New Jersey, and was fixated on Daibes and ensuring that he could get sympathetic treatment.
Menendez initially rejected Sellinger as a candidate after their December 2020 job interview because the lawyer told him he’d represented Daibes before and would likely have to recuse himself from any case involving the developer, according to the 2023 indictment of Menendez and the others.
When another candidate fell through, Menendez ultimately recommended him for the job. After Sellinger was sworn in, the Department of Justice had him step aside from the Daibes prosecution.
veryGood! (3835)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- North Carolina judge rejects RFK Jr.'s request to remove his name from state ballots
- 3 Milwaukee police officers and a suspect are wounded in a shootout
- Selling Sunset's Chrishell Stause Says She Has Receipts on Snake Nicole Young
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- Retired DT Aaron Donald still has presence on Rams, but team will 'miss him' in 2024
- Usher premieres Paris concert film at the Apollo with roses, 'Ushbucks' and sensuality
- Taylor Swift Arrives in Style to Travis Kelce's First NFL Game Since Kansas City Chiefs' Super Bowl Win
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- New Mexico attorney general sues company behind Snapchat alleging child sexual extortion on the site
Ranking
- Where will Elmo go? HBO moves away from 'Sesame Street'
- How many points did Caitlin Clark score Wednesday? Clark earns second career triple-double
- NCAA champions UConn and South Carolina headed to White House to celebrate national titles
- Anna Delvey on 'DWTS' leaves fans, Whoopi Goldberg outraged by the convicted scam artist
- The Best Stocking Stuffers Under $25
- Alex Morgan retires from professional soccer and is expecting her second child
- McDonald's changing up McFlurry with new mini versions, eco-friendly lids
- NBA legend Charles Barkley promises $1M donation to New Orleans school
Recommendation
Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
First court appearance set for Georgia teen accused of killing 4 at his high school
Man charged with assault in random shootings on Seattle freeway
Maine law thwarts impact of school choice decision, lawsuit says
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
'Bachelorette' Jenn Tran addresses finale debacle: 'My heart is heavy grieving'
An ex-Mafia hitman is set for sentencing in the prison killing of gangster James ‘Whitey’ Bulger
Ben Affleck's Past Quotes on Failed Relationships Resurface Amid Jennifer Lopez Divorce