HARTFORD, CT – Ronnie Bonner, 64, of Hartford, was sentenced to two years in federal prison on Tuesday for defrauding multiple financial institutions through a deceptive auto loan scheme, according to the U.S. Attorney’s Office for the District of Connecticut.
Between September 2014 and February 2015, Bonner submitted fraudulent auto loan applications in both his name and the names of acquaintances to several credit unions and banks. The loan applications were tied to specific vehicle identification numbers (VINs), but in most cases, no actual vehicles were purchased or intended to be delivered.
Instead, Bonner deposited the loan disbursement checks, made several initial payments, and then defaulted on the loans. Through this conspiracy, he obtained a total of $646,351.38. Bonner targeted several federally insured financial institutions, including UBI Federal Credit Union, Alliant Federal Credit Union, Enfield Community Federal Credit Union, First Niagara Bank, and Seasons Federal Credit Union.
Some of the fraudulent loans claimed purchases from Motorcars of Miami and Lauderdale Luxury Automotive in Florida. Bonner was ordered to pay $395,124.40 in restitution.
Bonner was arrested on November 5, 2020, and pleaded guilty to financial institution fraud on April 27, 2023. Though he was free on a $25,000 bond, he has been ordered to report to prison on May 7.
