According to the Courier-Post, Lease Group Resources Inc. (LGR) of Mount Holly, New Jersey, the equipment-leasing company at the center of an alleged $8.8 million bank fraud currently has assets of about $600,000, a court-appointed receiver says.

The Courier-Post reports states Moorestown CPA Martin Mellman, the Receiver, noted the firm’s assets in a status report filed with a federal judge in Camden. A civil suit alleges LGR and Luis G. Rogers Sr. participated in a check-kiting scheme at Liberty Bell Bank of Evesham, Susquehanna Bank of Pennsylvania and Roma Bank of Mercer County.

Previously on Equipment Finance Advisor:
Leasing Company CEO Charged with Bank Fraud

To read the full Courier-Post article, click here.