California Man Gets 6.5 Years in Prison for $39 Million Bank Fraud Scheme Spanning Nearly a Decade

A Northridge, California, man was sentenced Tuesday to 78 months in federal prison for orchestrating an elaborate bank fraud scheme that bilked seven financial institutions out of approximately $39 million over the course of nearly 10 years, federal authorities announced.

Gary Topolewski, 64, received the prison term from a U.S. district court, along with three years of supervised release. He was also ordered to pay over $19.4 million in restitution and $21.8 million in forfeiture. Topolewski had pleaded guilty in December 2025 to a single count of bank fraud.

According to court documents, Topolewski submitted false and fraudulent commercial loan applications on behalf of three purported companies he controlled—Topolewski America Inc., Morrison Knudsen Services Inc., and Metal Jeans Inc. Through these entities, he fraudulently obtained more than $39 million in loan proceeds, while unsuccessfully seeking millions more.

The loan applications falsely claimed the funds were intended for the purchase of large, industrial earth-moving construction equipment and for business working capital. In reality, prosecutors said, Topolewski and his companies diverted, laundered, and misappropriated the proceeds for entirely different purposes, including buying properties and making Ponzi-like payments to financial lenders—using new loan money to pay down older loan balances to keep the scheme afloat.

To further obscure his activities, Topolewski used multiple aliases, including the stolen identity of an unsuspecting victim, and adopted company names that closely mimicked those of well-established firms in the construction and equipment industries, according to the indictment.

“This nearly decade-long fraud exploited the trust of multiple financial institutions and caused significant financial harm,” the officials said in a joint statement, emphasizing the government’s commitment to prosecuting complex financial crimes.

Topolewski was immediately remanded into custody following the sentencing hearing.

One Fraudster Gets 11+ Years, Another 3 Years for Bilking 10,000 Investors in $45M Scheme

OMAHA, Neb. – A Nevada-based foreign national and a Las Vegas co-conspirator were sentenced Tuesday to 136 months and 36 months in federal prison, respectively, for running a massive fraud that siphoned tens of millions of dollars from more than 10,000 investors through bogus claims of imminent billionaire buyouts, federal prosecutors announced.

Neil Suresh Chandran, 54, a foreign national residing in Nevada and California, received the 11-year, 4-month term, while Bryan Lee, 60, of Las Vegas, was handed a 3-year sentence. Both were also ordered to serve three years of supervised release. The sentences were handed down in the District of Nebraska, where the case was prosecuted.

According to court documents, between 2018 and 2022, Chandran created companies that he falsely claimed were on the verge of being acquired by a consortium of billionaires at extraordinary valuations. Based on those lies, Chandran and his associates solicited more than $45 million from over 10,000 individual investors.

Lee, who served as the nominee owner and sole officer of ViMarket—a company controlled by Chandran—received millions in investor funds through that entity. Prosecutors said Lee knew the money came from individual investors and that the representations made to them were false. Despite that knowledge, both men used the funds as their personal piggy bank, purchasing luxury cars and real estate instead of delivering on any promised returns.

In April 2026, Chandran pleaded guilty to mail fraud, and Lee pleaded guilty to conspiracy to commit mail fraud and wire fraud.

Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division condemned the pair’s greed, stating: “Neil Chandran and Bryan Lee deceived thousands of investors, exploited their trust, and stole their money. Those who deceive investors, lie, and steal will be investigated and prosecuted. These two fraudsters deserve the sentence imposed. Their victims suffered because of their greed.”

U.S. Attorney Lesley A. Woods for the District of Nebraska emphasized the lasting harm to victims: “Schemes to defraud individual investors like the one carried out by Bryan Lee and Neil Suresh Chandran are personal crimes that have devastating consequences to the victims’ lives that last long after the crime is committed, and the money is spent. It takes a particularly cold and calculating criminal to perpetrate these schemes and to continue to lie to victims to keep the scheme alive. Individuals who defraud victims in Nebraska and elsewhere will be held accountable under federal law.”

FBI Washington Field Office Assistant Director in Charge Darren Cox added: “Chandran and Lee treated investor funds as their own personal piggy bank, using the money to purchase multiple houses and dozens of luxury vehicles. Their sentences reflect the commitment of the agents and prosecutors who fought for justice for the thousands of investors whom the defendants swindled out of millions.”

Iowa Developer Waives $17.7M Bankruptcy Discharge After Feds Uncover Hidden Fund Transfers

An Iowa man has agreed to waive his bankruptcy discharge of more than $17.7 million in debts following a federal investigation that revealed he transferred nearly $400,000 to companies he controlled in an effort to shield the money from creditors, the Department of Justice announced Thursday.

Jeffrey Garth Ewing voluntarily waived his discharge rights, and the Bankruptcy Court for the Southern District of Iowa approved the agreement on June 15. As a result, Ewing remains personally liable for his debts, and creditors are now free to pursue collection from him after the bankruptcy case is closed.

“Debtors who seek to defraud their creditors also attack the integrity of the bankruptcy system,” said Acting U.S. Trustee Mary Jensen of Region 12, which includes the Southern District of Iowa. “The USTP remains vigilant to keep the system strong and fair.”

Ewing, who developed housing communities for older adults throughout the Midwest, initially filed chapter 11 reorganization cases in March 2024 on behalf of himself, his wife, and several of their businesses. However, those cases were dismissed a month later when the debtors failed to file required bankruptcy documents.

In January 2025, Ewing and his wife filed a chapter 7 liquidation case. In that filing, Ewing claimed the couple had loaned nearly $400,000 to three of their businesses after the chapter 11 dismissals but before the chapter 7 filing.

But investigators from the USTP’s Des Moines office uncovered evidence that Ewing had actually transferred the funds to hide them from creditors between the bankruptcy filings. The loans lacked proper documentation, and in the one instance where a promissory note existed, Ewing admitted to backdating it. Additionally, while Ewing claimed the couple’s adult children owned two of the companies, the investigation found that Ewing himself maintained control over the businesses’ finances.

The USTP operates 82 field offices nationwide across 21 regions, with an Executive Office in Washington, D.C. Its mission is to promote the integrity and efficiency of the bankruptcy system for the benefit of debtors, creditors, and the public.