by Max Brantley
Solaroli, a Canadian citizen purporting to be the owner of patents for technology related to a more efficient combustion engine, was living and working in Jacksonville, Florida when he borrowed $1.5 million, via a personal line of credit, from OneBanc in April 2007. He was approved for the loan based on financial statement he signed in which he claimed assets of $170,900,000 with a net worth of more than $169 million. According to the Indictment, Solaroli falsified the nature and scope of his assets, the value of his assets, and his overall personal net worth. As a result of his sworn financial statement, Solaroli received a one year line of credit which he took within the first month of the loan approval, with over $900,000 being paid to Porche Motorsport, N.A. Solaroli never made a single payment on the loan causing OneBanc to sue Solaroli. In 2008, OneBanc received a civil judgment in Florida for $1.5 million dollars which Solarioli has not paid.