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Downtown Saint-Louis. (Source: Shutterstock)

A federal grand jury in St. Louis has indicted two men for defrauding three Missouri credit unions, federal prosecutors said Thursday.

Wendell Bryant, 43, has been charged with one count of bank fraud and Ciera Moreland, 34, has been charged with one count of conspiracy to bank fraud.

According to the indictment, Bryant and Moreland conspired to defraud the $ 466 million Neighbors Credit Union in St. Louis, the $ 2 billion Together Credit Union in St. Louis, and the $ 997 million Vantage Credit Union. of dollars in St. Charles, Missouri. by submitting fraudulent vehicle loan applications from September to November 2019.

Bryant and Moreland reportedly obtained loans from credit unions to purchase vehicles that were not in the custody or control of the STL Power Motors car dealership, which was operated by Bryant.

Moreland allegedly submitted loan applications containing false and fraudulent income verification documents. Bryant would then fax the purchase orders to credit unions for vehicles that were not in STL Power Motors’ possession, according to federal prosecutors.

The scheme earned Bryant and Moreland more than $ 90,000 in loan funds which were deposited into a Bank of America account, according to the indictment.

The funds were reportedly scattered between Bryant and Moreland.

They have yet to argue in favor of the charges.

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