USAMD Fugitive Loan Broker Extradited from South Korea Pleads Guilty to Federal Bank Fraud Conspiracy to Fraudulently Obtain Over $100 Million in SBA-Backed

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Press Release: U.S. Attorney’s Office, District of Maryland

Loren Young Park, age 52, formerly of Falls Church, Virginia, pleaded guilty today to conspiracy to commit bank fraud, in connection with a scheme to fraudulently obtain business loans guaranteed by the Small Business Administration (SBA), with resulting losses of over $100 million. Loren Park was a fugitive for eight years and was extradited from South Korea to face these charges.

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