Newark Cop Gets 48 Months for Bank Fraud

And bribery


Newark Police Officer Victor Patela was sentenced Wednesday to 48 months in prison for his role in a conspiracy to commit bank fraud, bank fraud, two counts of loan application fraud and bank bribery, U.S. Attorney Paul J. Fishman announced.

The jury returned the guilty verdict against Patela, 37, of Newark, following a one-week trial before U.S. District Judge Noel L. Hillman in Camden federal court. He was convicted of the charges on June 7.

According to U.S. Attorney's Office officials, Patela conspired to defraud Spencer Savings Bank in Elmwood Park by providing false statements and documents so he could secure a $1.92 million commercial loan for JVI Realty, a limited liability company he owned.