More details emerged this week about a huge nationwide fraud ring that hit more than 21 financial institutions, mainly credit unions, including a Pennsylvania cooperative that helped federal authorities stop the loan scam by reporting suspicious activity.

Seven people from four states were indicted this week by a Pennsylvania federal grand jury on charges of bank fraud and conspiracy to commit bank and wire fraud, the U.S. Attorney's Office said. The scam included fake car dealerships in California and a network of straw borrowers who falsified bank loan documents and supporting documentation to obtain auto and consumer loans and lines of credit, the court documents said.

The alleged fraud ring netted between $1 million and $2.4 million, prosecutors said.

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