Penza, 8 January 2016. PenzaNews. The Penza police have opened a criminal case against a young man who is accused of credit fraud.

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“A bank representative came with a report to the police station No. 1. According to his explanation, a resident of the Gorodische area intentionally provided falsified information during the loan procurement process in a Moskovskaya street store in December 2014. After signing the loan agreement, the man bought a cellphone for 17,000 rubles, but did not pay back the loan to the bank,” the press service of the Penza region Ministry of the Interior department informed PenzaNews agency.

The police offices established the culprit’s location, who, in turn, confessed to the crime, they added.

According to Part 1, Art. 159.1 of the Criminal Code, credit fraud is punishable by a fine of up to 120,000 rubles, or for up to 1 year worth of the criminal’s salary or other income; or up to 360 hours of compulsory community service; or up to 1 year of correctional labor; or up to 2 years of custodial restraint; or up to 2 years of compulsory labor; or up to 4 months of arrest.