Cops Seize Records Of Lending Firm
July 28, 2016 at 4:25 p.m.
LEESBURG - Police seized records of a financial lending company Thursday while serving a search warrant at a Tippecanoe Lake home.
Computers and financial records were among the items removed from the home-based Fedfinancial Group Inc. at 42 EMS T6 Lane. No charges have been filed in connection with the investigation that started last April 18.
Officials with the Kosciusko County Sheriff's Department were alerted to a possible loan scam after $75,000 was sent to the local company by a Bloomington company for the closing costs on a $3 million loan. The loan was never finalized, police said, and attempts to have the $75,000 returned have been unsuccessful. Police said the contact between the two companies has been via the Internet.
The case is being investigated as theft at this time, with a total of $192,500 considered stolen.
The owner of the company is listed as Timothy Glatt, with Gaines Salant named as president. Telephone and facsimile numbers on the loan paperwork led police to Glatt's Leesburg residence.
The case remains under investigation, with police sifting through the seized records to determine where the missing funds might be. [[In-content Ad]]
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LEESBURG - Police seized records of a financial lending company Thursday while serving a search warrant at a Tippecanoe Lake home.
Computers and financial records were among the items removed from the home-based Fedfinancial Group Inc. at 42 EMS T6 Lane. No charges have been filed in connection with the investigation that started last April 18.
Officials with the Kosciusko County Sheriff's Department were alerted to a possible loan scam after $75,000 was sent to the local company by a Bloomington company for the closing costs on a $3 million loan. The loan was never finalized, police said, and attempts to have the $75,000 returned have been unsuccessful. Police said the contact between the two companies has been via the Internet.
The case is being investigated as theft at this time, with a total of $192,500 considered stolen.
The owner of the company is listed as Timothy Glatt, with Gaines Salant named as president. Telephone and facsimile numbers on the loan paperwork led police to Glatt's Leesburg residence.
The case remains under investigation, with police sifting through the seized records to determine where the missing funds might be. [[In-content Ad]]