A real estate developer who was convicted with former Sen. Bob Menendez (D-NJ) this summer has pleaded guilty to a separate charge of bank fraud.
ABC News reported Fred Daibes was charged with making false statements concerning a 2008 loan when he was chairman and CEO at Mariner’s Bank. Prosecutors said Daibes falsely claimed another person was the borrower on a $1.8 million loan when the line of credit was for him.
Daibes entered the plea in U.S. District Court in Newark. He faces a maximum penalty of 30 years in prison and a top fine of $1 million.
In July, Daibes and Menendez along with businessman Wael Hanna were convicted on bribery charges related to a scheme where the senator took cash, gold bars and a car as part of an influence peddling scheme. A fourth person, businessman Jose Uribe, pleaded guilty; attorneys for Menendez, Hana and Daibes plan to appeal their convictions.
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