Louisiana - Acting U.S. Attorney Michael M. Simpson announced that Ernest X. Taylor Jr., 40, of LaPlace, Louisiana, pleaded guilty on August 6, 2025, to one count of bank fraud under Title 18, U.S. Code, Section 1344(2). The plea stems from a multi‑year scheme involving fraudulent loan applications submitted to credit unions.

According to court documents, Taylor carried out the scheme between 2019 and 2022. Prosecutors said he applied for more than $400,000 in loans, falsely claiming the money would be used to buy vehicles. He used other people’s names on applications and failed to disclose that the loan proceeds would go to him, a key fact that would have been material to the lending decision. In furtherance of the fraud, Taylor provided credit unions with fake paperwork, including fraudulent vehicle titles and falsified pay stubs. After receiving the funds, he defaulted on the loans.

U.S. District Judge Jane T. Milazzo set sentencing for October 29, 2025. Bank fraud under Section 1344(2) generally involves executing a scheme to obtain money from a financial institution by means of false or fraudulent pretenses. Sentencing will follow federal guidelines and the statutory penalties applicable to the offense of conviction.

The Federal Bureau of Investigation and the United States Secret Service investigated the case. Assistant U.S. Attorneys Maria M. Carboni and Edward Rivera of the Financial Crimes Unit are prosecuting.