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By   /   August 7, 2014  /   No Comments

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Chaka Fattah, Jr. (photo: NYDailyNews.)

Chaka Fattah, Jr. (photo: NYDailyNews.)

The namesake son of Pennsylvania Congressman Chaka Fattah  has been arrested on multiple bank and tax charges.

Chaka Fattah, Jr. was arrested and taken into federal custody Wednesday, and charged on an eye-popping 25 counts, including ripping off the School District of Philadelphia, according to the federal indictment.

The younger Chaka Fattah is charged with obtaining bank loans to cover tens of thousands in gambling debts.  In one instance, according to the federal indictment, Fattah illegally obtained a $50,000 loan from United Bank, using $33,000 of it to pay off betting losses.

The high-living Fattah Jr. was also charged with stealing funds the federal government to the School District of Philadelphia, then concealing the theft.

Fattah, Jr. is also charged with attempting to settle debts for less than he owed.  He claimed his business, 259 Strategies, was out of business.  Prosecutors allege the business was open and making substantial money at the time Fattah, Jr. said the business was defunct.

The indictment also alleges Fattah Jr. failed to file income tax returns for the years 2005, 2006, 2008, 2009.

According to the federal indictment, Fattah Jr. was charged with bank fraud (1 count); false statement to obtain a loan (8 counts); false statement to settle a loan (1 count); false statements concerning loans insured by the Small Business Administration (3 counts); filing false federal income tax returns (4 counts); failing to pay federal income tax (1 count); theft from a program receiving federal funds (1 count); wire fraud (4 counts); and  aiding and abetting.

Chaka Fattah, Jr. is also the stepson of a well-known Philadelphia television news anchor, Renee Chenault-Fattah.

Fattah Jr. faces decades in prison and a $13 million fine if convicted on the charges.  He bonded out of jail.




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