Sentencing of Key Figure in EFI Loan Fraud Case Postponed

According to recently filed documents in the U.S. District Court for the Eastern District of Pennsylvania, district judge Paul S. Diamond, Jr. ordered a postponement of sentencing for Joseph M. Brass, a key figure in the Equipment Finance loan fraud case.

The sentencing was scheduled to take place on March 9, 2011 in the U.S. District Court in Philadelphia and has been postponed until June 9, 2011. No reason was given for the postponement.

Braas is one of three former Equipment Finance employees who were indicted and subsequently pleaded guilty to one count of conspiracy and two counts of mail fraud.

Five additional individuals were indicted and are awaiting trial, which is scheduled for October 25, 2011.

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