The $330 million HeritageWest Credit Union said it was an innocent victim in a case involving an equity skimming scheme.
Eric A. Richardson, the former mayor of Cedar Hills in Utah, pleaded guilty this week to one count of felony bank fraud for his role in an auto loan application skimming case.
According to the U.S. District Court for Utah, Richardson allegedly defrauded the HeritageWest in Tooele, Utah, by helping people to submit vehicle loan applications containing false information. Some of the funds approved were then skimmed for other uses.
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