Courtesy of WRCR.
A Monsey man will spend the next 2½ years in prison after pleading guilty of attempting to obtain a fake $1.4 million loan from Park Avenue Bank. U.S. Attorney for the Southern District of New York, Damian Williams, says 65 year-old Mendel Zilberberg worked with a third party whom he knew was lying on a loan application. Williams said Zilberberg was a member of the bank’s board of directors and exploited his position in the bank that led to a “staggering” loss for the institution. In addition to the prison term, Zilberberg was also sentenced yesterday to three years of supervised release and ordered to pay more than $1.5 million in restitution and forfeiture.