Bossier City car dealer gets 15 months in jail over 3 fake loans

Bossier City car dealer gets 15 months in jail over 3 fake loans
SENTENCED: Larry Wayne Toms Jr., 42, of the 200 block of Cattail Drive in Benton, 15 months in prison on one count of bank fraud (Source: Bossier Parish Sheriff's Office)

BOSSIER PARISH, LA (KSLA) - A Benton man with a car dealership in Bossier City must serve 15 months in prison for applying for loans on three non-existent vehicles.

Larry Wayne Toms Jr., 42, of the 200 block of Cattail Trail, also must pay $161,066 in restitution and serve five years on federal supervised release once he gets out of prison, U.S. District Judge Elizabeth E. Foote decided Monday.

Toms pleaded guilty Dec. 12 to one count of bank fraud for defrauding a credit union of $177,000.

The fraudulent loan applications for the purchase of three cars were submitted between June 1-July 23, 2015, to the Post Office Employees Federal Credit Union in Shreveport, according to U.S. Attorney David C. Joseph's office.

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