How To Rob A Greedy Bank
Mary Carole McDonnell has been retired for seven years after allegedly defrauding banks that didn't bother checking out her story
“If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty
Mary Carole McDonnell will turn 74 in a few days, likely enjoying her retirement in the luxe, extradition-free city of Dubai.
Banks must have treated her like royalty after she convinced them she was an heiress of the family behind aerospace giant, McDonnell Douglas. They loaned her $30 million and off she went, never to pay them back.
McDonell was indicted in 2018 for fraud and identity theft, but who cares about an old lady who allegedly defrauded a handful of reckless lenders in Orange and Los Angeles counties?
It’s been seven years and the FBI has finally decided to do something about McDonnell, placing her on its most wanted list on Dec. 5.
As if Dubai is going to care about a non-violent offender bringing stolen bank money into its economy, if she is even there. As if she might not be well past her life expectancy by the time anyone catches up to her.
Headlines about a fake heiress have resounded around the world this week from local KTLA-TV in Los Angeles to The New York Post and People to The Times of London and the Times of India.
She looks smart. The banks look stupid.
Luckily for most of them, they remain unnamed in court documents. Banc of California, which gave her a $15 million bridge loan, is the only one on record after filing a lawsuit in 2020 detailing its reckless stupidity. She got another $15 million from unnamed banks, and at least $2.5 million from other lenders.
McDonnell allegedly told the banks she would soon have access to an $80 million trust. A two-minute call to Northern Trust would have ended this story, but why would any commission-based banker want to ruin a good day with a pesky phone call?
Too bad, McDonnell had nothing to do with McDonnell Douglas, which was acquired by Boeing in 1997.
She is the McDonnell who ran a struggling production company in Burbank, Calif.-called Bellum Entertainment.
She is the McDonnell who helped produce “I Married a Murderer,” “It Takes a Killer” “Murderous Affairs,” and other true-crime TV shows.
She is the one who did her research. The banks did not.
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