FBI seeks former Bellum chief exec Mary Carole McDonnell in alleged $30 million fraud
The former chief executive of Bellum Entertainment is wanted by the FBI for a fraud scheme that allegedly netted nearly $30 million from banks.
Mary Carole McDonnell, the ex-chief executive of Bellum Entertainment, is the subject of an FBI manhunt linked to a federal fraud case involving roughly $30 million. Authorities allege she falsely claimed to be an heir to a secret $80 million trust, using fabricated documents to obtain a $15 million loan and receiving about $14.7 million from Banc of California, while also defrauding other financial institutions for over $15 million.
A federal arrest warrant was issued on Dec. 12, 2018, and the FBI’s wanted notice indicates she is believed to be in Dubai. The indictment includes five counts of bank fraud and two counts of aggravated identity theft. Antonio Sabato Jr., who hosted Bellum’s renovation series, said he learned of the allegations only after being contacted by a reporter and had no knowledge of any wrongdoing at the time. He described the show’s abrupt cancellation as puzzling and now views the fraud case as providing context for the company’s financial troubles.
Why it matters
The case highlights potential vulnerabilities in bank lending and the challenges of tracking cross-border fraud.
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