SA Businessman Pleads Guilty
SAN ANTONIO, TX.- United States Attorney Johnny Sutton announced that in San Antonio, 38-year-old Bassam Jamil Hasan (a.k.a. Sam Hasan), owner of Sam’s Embroidery Club, faces a maximum 30 years in federal prison after pleading guilty this morning to making false statements to obtain more than $1.3 million in bank loans.
Appearing before United States Magistrate Judge Nancy Stein Nowak, Hasan pleaded guilty to one count of making a false statement to a bank. By pleading guilty, Hasan admitted that in order to obtain a business loan in November 2004, he lied to loan officials with Broadway National Bank by telling them that his company had an active contract with H. E. Butt Grocery Company to supply clothing apparel and accessories.
On November 14, 2007, a federal grand jury returned a 12-count indictment alleging that Hasan used the same fictitious contract with H.E.B. to secure loans totaling more than $1.3 million from three local financial institutions: D’Hanis State Bank, Lone Star Capital Bank and Broadway National Bank.
In addition to pleading guilty, Hasan has agreed to pay restitution involving the charged crime and relevant conduct. At this time, authorities believe Hasan’s still owes approximately $625,000 of the proceeds obtained by way of his scheme.
Sentencing has been scheduled for 9:30 am on September 4, 2008, before United States District Judge Orlando Garcia.
This case was investigated by the Federal Bureau of Investigation. It is being prosecuted for the government by Assistant United States Attorney David Counts.