Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News

<a href="http://www.amazon.com/TarGard-Mini-Disposable-Cigarette-Filters/dp/B000NBGCH6?ie=UTF8&tag=cosdelcri-21&link_code=bil&camp=213689&creative=392969" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;" target="_blank"><img alt="TarGard Mini Disposable Cigarette Filters: Bulk Bag of 100 filters" src="http://ws.amazon.com/widgets/q?MarketPlace=US&ServiceVersion=20070822&ID=AsinImage&WS=1&Format=_SL160_&ASIN=B000NBGCH6&tag=cosdelcri-21" /></a>Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News: "Ned Roscoe, a former owner and officer of Cigarettes<img alt="" border="0" height="1" src="http://www.assoc-amazon.com/e/ir?t=cosdelcri-21&l=bil&camp=213689&creative=392969&o=1&a=B000NBGCH6" style="border: none !important; margin: 0px !important; padding: 0px !important;" width="1" /> Cheaper! was convicted Wednesday in federal court in San Jose of multiple counts of bank fraud.<br /> Roscoe, 51, was found guilty of one count of conspiracy to commit bank fraud and make false statements, 13 counts of bank fraud and 14 counts of making false statements to a bank, according to a story first reported by the Napa Register.<br /> The fraud occurred while Roscoe ran the 800-store national discount chain with headquarters in Benicia, generating $1 billion in annual revenue, the U.S. Department of Justice said in a news release.<br /> The jury agreed that Roscoe had submitted knowingly inflated inventory valuations to Comerica Bank in order to keep his cigarette business afloat during financial stresses. A federal grand jury indicted him and his father, 81-year-old John Roscoe, in 2007 and reindicted on revised charges in September.<br /> John Roscoe pleaded guilty in January to conspiracy to make false statements to a bank."

Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News

Cigarettes Cheaper! ex-owner convicted in bank fraud scheme - San Jose Mercury News: "Ned Roscoe, a former owner and officer of Cigaret...

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