Local News

Knightdale man pleads guilty in illegal loan scheme

Posted April 9, 2010 5:22 p.m. EDT

— A Knightdale man pleaded guilty in an illegal loan scheme in federal court on Friday.

Prosecutors say Kimitha Davis operated a company called Pro Bowl Consulting to secure loans for customers using doctored information.

Davis said he enjoyed kickbacks with bank insiders who helped with those loans.

Authorities said the total amount of fraud could equal $2.5 million.

Davis will be sentenced in July.