On Thursday, September 28, 2017, Acting United States Attorney Tom Larson announced that a Carrollton woman had been sentenced in federal court for using her neighbor’s home to obtain a loan for a failed business venture. 65-year-old Carol Joyce Noble was sentenced to two years and six months in federal prison without parole. The defendant has also been ordered to pay $267,924 in restitution.
The defendant was found guilty at trial for two counts of bank fraud on March 28, 2017. Evidence shows that Noble defrauded the Central Trust Bank in Jefferson City in September of 2011 in a scheme to obtain a fraudulent $185,000 loan in hopes of purchasing a convenience store in Stover, Missouri.
In order to obtain the loan, Noble caused the fraudulent appraisal of her Gravois Mills residential property. She changed the physical address to that of a nearby residence, without her neighbor’s knowledge. Then, Noble met with the appraiser at her neighbor’s home. The neighbor’s property was appraised at a value of $100,000 higher than the value of Noble’s property.
Noble was found guilty of two counts of bank fraud in relation to the crime. Court documents confirm that the loan closed and the money was issued. However, Noble’s business quickly failed. Again, Carol Joyce Noble has been sentenced to two years and six months in federal prison.