Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times | Recycling
Rocklin and Roseville Today Events Calendar
contact add event advertise 

Granite Bay Man Arrested in $6.8 Million Bank Fraud



Roseville, CA -- Michael T. Sahlbach, 60, of Granite Bay, was recently arrested on six counts of bank and wire fraud, United States Attorney Benjamin B. Wagner announced. A federal grand jury returned a sealed indictment; it was unsealed following his arrest.

According to court documents, Sahlbach owned and operated a debt collection business, National Credit Acceptance, Inc., that purchases pools of consumer debts from other companies at a discount, and then attempts to collect on these debts from the consumer. In order to purchase the debt pools, Sahlbach opened a $25 million line of credit with First Bank to help support his business. The credit agreement required that if NCA wanted to buy a debt pool, it would provide 15 percent of the cost of that pool and 85 percent would be financed by First Bank.

According to the indictment, on several occasions from September to December 2008, Sahlbach represented to First Bank that he had contracted with Lender Exchange to purchase debt pools. As a result of those representations, First Bank wired a total of $6.8 million to Lender Exchange. Sahlbach had not told First Bank that he actually controlled Lender Exchange. In fact, in August 2008, he had registered it with the California Secretary of State using the alias M. Hansen and used the address of a parking garage on Capitol Mall. If First Bank had known Sahlbach controlled Lender Exchange, it would not have extended credit.

The indictment alleges that Sahbach did not use the money to purchase debt pools from Lender Exchange, but transferred the funds to other bank accounts he controlled. He used those funds for business expenses and to provide the 15 percent contribution to receive additional funds from First Bank. Shortly after obtaining the final disbursement from First Bank, Sahlbach defaulted on the entire line of credit with First Bank.

Sahlbach is scheduled to make his initial appearance today at 2:00 p.m. before a United States Magistrate Judge.

This case was the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorney Jared C. Dolan is prosecuting the case.

If convicted, Sahlbach faces a maximum statutory penalty of 30 years in prison and a $1 million fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.





Placer County News Headlines

Rocklin Home for Sale: Retreat at Whitney OaksA brand new, custom home on Whitney Oaks golf course lot is now available in Rocklin.

Placer County Ranks #1 in Quality of Life, Second HealthiestFor the third consecutive year, Placer County has ranked as the second healthiest county among California's 58 counties.

A Blue Tie Affair: KidsFirst Annual Luncheon April 16thThe 17th Annual Signature Luncheon promoting awareness for Child Abuse Prevention will be hosted by retired PCWA General Manager David Breninger and his wife Linda.

Roseville City Jail Slated for ConversionThe Roseville City Council has approved the conversion of the Roseville City Jail to an arrestee processing center when

Rocklin Crime Report Digest Update (3-26-15)Rocklin Police Department's weekly crime report digest update for the period of March 16- 22, 2015

Nonprofits Team Up at Summit in LincolnPlacer Community Foundation's Fifth Annual Nonprofit Leadership Summit was held on March 20th at the Orchard Creek Ballroom at Sun City, Lincoln.

Cognitive Decline Worse in Men or Women?A study published online in JAMA Neurology finds there are multiple factors contributing to cognitive decline throughout adulthood.

Roseville Chamber of Commerce Events April 2015Upcoming events for the Roseville Chamber of Commerce for the month of April 2015.

Riolo Vineyards Project Changes ApprovedChanges to plans for the Riolo Vineyard, an approved development in western Placer County, moved forward Tuesday when the Placer County Board of Supervisors

$57K for Reflective Pavement Markers in Placer CountyThe Placer County Board of Supervisors voted unanimously Tuesday to approve a $57,621 contract with Central Striping Service Inc. to install recessed reflective pavement markers

Gas Prices: All Over the PlaceThe national average has increased 12.1 cents per gallon during the last month and stands 110.6 cents per gallon lower than this day one year ago.

Lower Gas Prices: Welcome Relief, with a CatchWhen you fill up your tank in California, you pay 18 cents per gallon for the State fuel tax and 18.4 cents per gallon for the Federal fuel tax


NEWS: In Case You Missed It