BOSSIER CITY, LA (KSLA) - A Bossier City car dealer pleads guilty to stealing money from a credit union.
Larry Wayne Toms Jr., 41, pleaded guilty to taking out three different car loans totaling up to $177,000.
According to the guilty plea Toms reportedly submitted loan applications in 2015 for three vehicles that did not exist.
The Post Office Employees Federal Credit Union in Shreveport allegedly disbursed Toms $177,000 for the vehicles which were listed on the loan applications.
The plea also states that he will be charged with one count of bank fraud and possibly spend up to 30 years in prison, with a $1 million fine.
Toms is currently being held in Bossier Maximum Security Facility on:
- 1 count of failure to appears
- 2 counts of issuing worthless checks
The court set a sentencing date for March 23, 2018.
His bond is set for about $470,050.