March 5, 2010 - CHARLESTON, WV—Deborah L. Joyce, also known as "Deborah L. Smith," pled guilty Friday before United States District Judge Thomas E. Johnston to making a false statement to a financial institution. Joyce, 37, of Hurricane, West Virginia, is scheduled to be sentenced on June 29, 2010. She faces up to 30 years' imprisonment and a $1,000,000 fine.
An investigation conducted by the Federal Bureau of Investigation revealed that on March 12, 2004, Joyce purchased a 2003 Chevrolet Avalanche from a car dealership in Ripley, West Virginia. The same day, Joyce obtained a car loan for approximately $28,000 from a community bank in Nitro, West Virginia to pay for the vehicle, and she provided the bank with a lien against the vehicle title. Six days later, Joyce applied for and received a car loan for the same vehicle from a different Charleston bank. As part of her application, Joyce affirmatively represented that she had no liens against the SUV even though she had just gotten a loan the week before. Further, Joyce provided the Charleston bank a false 1040 tax return and fraudulent W-2s to substantiate her income. As a result of her criminal conduct, the Charleston bank loaned Joyce approximately $28,000 to purchase the SUV. Joyce deposited the funds in her personal account and used them for her personal use.
Joyce ultimately defaulted on both loans. The first bank repossessed the vehicle and was able to recoup all but $1,500 from its original loan. The second bank, left with no collateral, ultimately lost approximately $21,000 as a result of Joyce's fraudulent conduct.
Assistant United States Attorney Thomas C. Ryan is handling the prosecution.
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