Man pleads guilty to bank fraud

A St. Matthews man has pleaded guilty in federal court to defrauding a bank.

Jose R. Contreras, 43, will be sentenced later and could face a fine of $1 million and 30 years in prison, according to the U.S. Attorney's Office in South Carolina.

Evidence presented at the plea hearing established that from November 2003 to October 2005 Contreras opened accounts and obtained loans from a bank using the Social Security numbers of his father and brother, the Attorney's Office said.

It said Contreras failed to repay the loans, causing the accounts to go into default.

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