Local banker indicted for bank fraud conspiracy involving millions

HOUSTON - A Houston area man has been taken into custody for allegedly acting as a loan officer on millions of dollars in fraudulent loans as part of a large-scale bank fraud scheme, announced Acting U.S. Attorney John G.E. Marck.

Siupo Ernest Mo has now made his initial appearance in Houston federal court.

According to the indictment returned April 29, from at least 2018 through 2022, Mo conspired with others in a scheme to obtain money from federally insured financial institutions through fraudulent loan applications.

The charges allege he worked as a loan officer and assisted in preparing and submitting loan applications containing false and fraudulent information.

The scheme allegedly included fake equipment invoices, fraudulent income tax returns and falsified financial and bank statements.

Mo recruited others to prepare false tax returns and used those documents to support loan applications, according to the allegations.

The Federal Housing Finance Agency - Office of Inspector General, IRS Criminal Investigation, FBI and Federal Deposit Insurance Corporation - OIG conducted the investigation along with valuable assistance from the Texas Financial Crimes Intelligence Center. Assistant U.S. Attorney Belinda Beek is prosecuting the case.

The Department of Justice has created the National Fraud Enforcement DivisionLinks to other government and non-government sites will typically appear with the "external link" icon to indicate that you are leaving the Department of Justice website when you click the link.. The core mission of the Fraud Division is to zealously investigate and prosecute those who steal or fraudulently misuse taxpayer dollars. Department of Justice efforts to combat fraud support President Trump's Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste and abuse within federal benefit programs.

An indictment is a formal accusation of criminal conduct, not evidence. A defendant is presumed innocent unless convicted through due process of law.