PENSACOLA, Fla. — A Pensacola man has pleaded guilty to three counts of bank fraud, announced the U.S. Attorney’s Office for the Northern District of Florida.
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According to prosecutors, Shawn Steele, 52, admitted to making false statements about his income in loan applications between January 3, 2023, and June 30, 2023. The loans, from PenAir Credit Union and Central Credit Union of Florida, financed a Jeep Wrangler, a Ferrari 488 Pista, and a Cape Horn boat.
“I am proud of the excellent investigative work by our federal law enforcement partners that uncovered and stopped this fraudster’s scheme,” said U.S. Attorney John P. Heekin.
“This successful prosecution should serve as a warning to others who think they can fraudulently enrich themselves by ripping off banks. Doing so will only book you a one-way ticket to prison.”
Sentencing is scheduled for December 17, 2025, at 11 a.m. before District Judge M. Casey Rodgers. Mr Steele faces up to 30 years in prison, followed by five years of supervised release.
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The case was investigated by the Federal Bureau of Investigation. Assistant U.S. Attorney Jeffrey M. Tharp is prosecuting it.
