A criminal case that victimized the $972 million Wright Patman Congressional Federal Credit Union in Oakton, Va., is receiving widespread national media coverage because the accused fraudster, who worked for Democratic Representative and former chair of the Democratic National Committee Debbie Wasserman Schultz, is also being investigated by the U.S. Capitol police.
A federal investigator alleged that Imran Awan and his wife, Hina Alvi, of Lorton, Va., fraudulently applied for a $165,000 home equity line of credit for a rental property, which was not their primary residence. Because of the higher risk, the credit union's policy is not to approve HELOCs for rental properties.
What's more, the $165,000 HELOC funds were wire transferred to Pakistan, a transaction that fraud experts said should have raised big red flags. Awan's lawyer, however, said there was nothing nefarious behind the wire transfer transaction.
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