A State College man has been indicted by a federal grand jury on charges of lying about his income to get loans on multiple vehicles and to live in subsidized housing, according to court documents.
Ivan Kronin, 31, is accused of trying to execute a scheme to defraud multiple banks and financing firms to obtain funds and property under false pretenses.
In the indictment, Kronin is accused of saying on vehicle loan applications that his income from KPS Construction is between $60,000 and $78,000, while on documents he submitted to the Centre County Housing Authority, in which he says he is self-employed, his incomes were different. On the housing documents, he says his incomes were $11,440 in 2008, $39,864 in 2009, $12,151 in 2010, and $14,224 in 2011.
On a credit card application for Discover, Kronin also allegedly says his yearly income for KPS Construction was $80,000.
He also allegedly obtained loans for multiple vehicles, including a 2003 Bourget Python motorcycle, 2009 Audi A-5 sedan, 2011 Audi A-6 sedan, 2010 Toyota Tacoma truck, 2009 Ford F-250 Super-Duty truck, 2006 BMW 7 series sedan and a 2011 Ford F-250 truck.
He obtained these loans from Ally Financial Inc., Audi Financial Services, First National Bank of Pennsylvania, Pennsylvania State Employees Credit Union and SunTrust Bank, according to court documents.
Kronin also allegedly concealed two Sovereign Bank accounts he controlled from the Centre County Housing Authority and U.S. Department of Housing and Urban Development between 2007 and this year. For this, he is charged with making false statements. The accounts had deposit amounts of $172,532 and $381,554.
