Lancaster man faces bank fraud charge

A Lancaster man was arrested Monday on charges that he forged a letter and defrauded a bank, according to the South Carolina Law Enforcement Division (SLED).

Ronald Lewis Truesdale, 44, was arrested by SLED officers and charged with one count each of forgery, banking institution crime, and conspiracy. He was jailed at the York County Detention Center, officials said.

In arrest papers, Truesdale is accused of buying a 2007 Chevrolet Tahoe in November 2011 for $17,040 and putting it in the naqme of his business, Urban Auto Sales. Investigators said that in March 2012, Truesdale allegedly transferred the title of the Tahoe from his business to Arrow Pointe Federal Credit Union.

In April 2012, investigators said, the S.C. Department of Motor Vehicles received a satisfaction of title lien form and a letter, supposedly sent by Arrow Pointe Federal Credit Union, saying the Tahoe had been paid off. But authorities said the letter was a forgery, and the lien held by the credit union had not been settled.

The DMV had issued a clear title to Truesdale, according to SLED officials, but that title later was rescinded.

Authorities said the charges against Truesdale carry penalties of up to 20 years in prison and fines of up to $25,000.