A Portsmouth man who used fake identities to obtain car loans from two financial institutions has been sentenced to federal prison, according to court records.
Deviyon Nichols, 33, was sentenced Thursday in federal court in Norfolk to two years and six months in prison for bank fraud.
Prosecutors say Nichols carried out the scheme by using a false identity to secure auto loans he otherwise would not have qualified for.
According to court documents, on July 23, 2021, Nichols applied for an auto loan from a credit union to buy a 2014 BMW X5. Investigators say he used a fraudulent South Carolina driver’s license under the name “Davyion Martin” along with a false Social Security number.
Because the application appeared legitimate, the credit union approved the loan and issued $31,718.24 for the purchase.
Authorities say Nichols later lost the vehicle when it was impounded following a traffic stop. When officers pulled him over, Nichols attempted to flee. Police also found narcotics and a firearm inside the vehicle, according to court records. The credit union ultimately lost money on the loan.
Investigators later discovered Nichols used the same false name, identification, and Social Security number in another loan application earlier that year.
In April 2021, Nichols obtained a loan from another bank to purchase a 2014 Honda Accord. Based on the false information, the bank approved the loan and provided $15,684.60.
That vehicle was later destroyed in a traffic crash, leaving the bank with financial losses tied to the fraudulent loan.
Federal prosecutors say the case highlights how identity fraud can lead to significant losses for financial institutions.
Nichols will now serve 30 months in federal prison for the fraud scheme.