A man who advertised himself as the “The Credit Line Millionaire,” claiming he could get loans for any business, pleaded not guilty to federal fraud charges.
Christopher Robert Wise, 34, of Denver, entered his plea Thursday in Los Angeles after he was arrested by the Secret Service Wednesday night, according to a news release from Thom Mrozek, spokesman for the U.S. Attorney’s Office in California.
Wise was arrested in Los Angeles International Airport after arriving on a flight from Puerto Vallarta, Mexico, according to the release.
Wise spoke at a seminar where attested that while he and his business both had bad credit, he was able, by leveraging other people’s credit, to obtain a line of credit for $1 million, according to the release.
Wise is accused of scheming to open multiple lines of credit through various banks worth hundreds of thousands of dollars, according to the release. In one case, a line of credit was approved worth $175,000.
Wise, along with several co-conspirators, is accused of misrepresenting himself through and , where he acquired business lines of credit for himself via the loan applications submitted by victims, according to the release.
Wise’s alleged personal guarantor was a straw borrower who applied for loans in exchange for a percentage of the approved funds, according to the release.
Wise is charged with one count of bank fraud conspiracy and three counts of making false statements to a financial institution, the release states.
The four charges each carry a statutory maximum sentence of 30 years in federal prison, the release states.
Wise remains in custody on a $150,000 bond with a trial date set for Oct. 1, the release states.
Five of the co-conspirators pleaded guilty and are awaiting sentencing, according to the release.
Ryan Parker: 303-954-2409, rparker@denverpost.com or
