A Filipino car dealer who lived in Australia under a false name for 20 years has been sentenced to a lengthy jail term in southern California
Eminiano Jun Reodica received ten years in prison and was ordered to pay $30 million in restitution after being found guilty of defrauding banks of $64 million in the 1980s, abs-cbn.com reports.
Reodica was president of the Grand Wilshire Group of Companies – the third largest car dealership in the US at the time.
Reodica would use the same car as collateral for two banks, direct workers to forge signatures and would sometimes resell cars without telling banks.
In 1992, Reodica became an Australian citizen under the name Roberto Abrian Coscolluela, Jr, living there for two decades,
Court records suggest that Reodica, as Coscolleula, defrauded several members of the Filipino-Australian community.
He was eventually arrested in the US during a layover at the Los Angeles International Airport.
It is not Reodica’s first time in front of the courts.
In 2015 he pled guilty to 26 counts of bank fraud, and making false statements to financial institutions.
Join the conversation