SAN FRANCISCO (AP) — A former FBI employee and his wife have pleaded guilty to bank fraud, admitting that they scammed two financial institutions out of more than $80,000.
The U.S attorney's office says 61-year-old Charles Espinel and his wife, 58-year-old Jeannette Espinel, entered their pleas Thursday in San Francisco.
They admitted that they defrauded First California Bank and Wells Fargo Bank in connection with mortgage loans they received to buy a $750,000 rental property in Daly City and a $600,000 rental property in San Bruno.
The husband further admitted that he lied to the FBI to maintain a top-level security clearance. Espinel worked for the agency for 32 years, most recently as a support services technician.
The maximum sentence for bank fraud is 30 years in prison and a $1 million fine. The Espinels are scheduled to be sentenced on Nov. 12.
©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.