Whoever Thought A Car Loan Could Land You In Prison – Melvin Van Holloway Guilty of Bank Fraud

As a business ethics and white collar crime speaker, (www.chuckgallagher.com) I often tell groups – Every choice has a consequence. The strange part about choices and consequences is – if you don’t see an immediate consequence, often you find yourself caught in the illusion that there isn’t one. When I speak about the Truth about Consequences – I share that one can never escape the consequences that follow ones choices. I know. I speak from experience.

Today, as announced by the US Attorney’s office in the Southern District of Texas, Melvin Van Holloway, age 40, had to step forward and begin the process of accepting the consequences of his actions by pleading guilty to bank fraud in connection with loans he made at Capital One Bank.

According to the news release: Holloway made material false statements in connection with his applications to obtain over $100,000 in automobile loans from Capital One N.A. and its subsidiary, Capital One Auto Finance. He was confronted at the bank by United States Secret Service in the process of trying to secure an additional $25,000 personal loan. In making the loan applications, Holloway used the social security number of another person without authorization.

Sentencing is scheduled for June 2, 2008. HOLLOWAY faces a possible sentence of up to 30 years imprisonment and a possible fine of up to $1,000,000.

Considering the pool of “free money” has seemingly dried up and lender are taking a more careful look at loan applications, it makes no sense to make false statements in connection with any loan application. Remember, every choice has a consequence. Making false statements is a crime, so is obtaining money under false pretense. In Van Holloway’s case, it appears that he also participated in what most would call identity theft by using the social security number of another person.

While I doubt that Van Holloway will get the maximum sentence, there is no doubt that, in the prime of his life, Van Holloway will spend time in federal prison. Having been there myself, I can state categorically it is not “club fed.” Federal prison is something to be avoided. It is not fun and Van Holloway will find that his life will be altered in dramatic ways.

One this is certain, Van Holloway will learn the lesson that I learned the hard way – crime doesn’t pay.

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12 Responses to Whoever Thought A Car Loan Could Land You In Prison – Melvin Van Holloway Guilty of Bank Fraud

  1. I went to college with Melvin. So unfortunate.

  2. Shetera Conerly says:

    Is this the Melvin that attended Prairie View A&M?

  3. Moe says:

    Melvin is a good man and father, it is unfortunate that he and his family have had to live this tragedy, but I can rest assure that they will be able to get through this. <ore importantly Melvin will get throough this and never give up

  4. roe says:

    I know melvin and those that actually know him know that his family is wealthy and so is he and his lawyer is Mike Deguerin. Im a Lawyer and i follow this case day to day and actually its already been decided but you have excons that post things to perk your intrest to pay there bills because there still on parole. Melvin is good and wont be going anywhere. Trust……………….

  5. roe says:

    Shetera conerly, my name is roe i handle melvins residentail and commercial properties he says to contact him at mvh3@flash.net and he will give you his cell number.

  6. Karma says:

    yeah, that’s to bad, but Melvin messed over a lot a people over the years and is just getting back what he put out there! If his family has so much money then why does he keep doing shit like this??? I guess karma reall is a bitch!!!

  7. roe says:

    Karma dont believe everything you hear and read its not all true. Oh yeah Karma put your real name on here dont hide behind that and learn how tp spell.

  8. Karma's still a bitch!!! says:

    Roe, you may want to check your own sentences for errors before you decided to give anybody a spell check! I say whatever I want say, especailly when it is all so true. Hell, he has probably fucked over you before! LOL! Oh, and Roe…keep up the good PR campaign…he’s probably going to need it! LOL!

  9. Reap what you sow Short Mofo.. says:

    Mel is not an ethical guy and I hope he gets passed around the jail house like a 2 dollar &%^

  10. MerrY says:

    I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the good work. Look forward to reading more from you in the future.

  11. yolonda says:

    who knows … that this man is like that. my unborn child has a crook for a father

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