UPDATE: 3/8/22 - San Luis Obispo Police announced a second arrest in a loan fraud incident.
Police say Jesse Lewelling, 45, of San Luis Obispo was arrested the day of the loan fraud incident on March 3 for a felony warrant.
After further investigation, it was determined Nelson and Lewelling conspired to commit fraud at SESLOC in San Luis Obispo.
Lewelling was booked in the San Luis Obispo County jail for a felony warrant and conspiracy. Nelson was also charged with conspiracy along with his previous charges.
San Luis Obispo Police arrested a Bakersfield man for loan fraud at a SESLOC in San Luis Obispo.
Detectives say they were contacted by SESLOC Federal Credit Union on February, 23 regarding people who were applying for personal loans with fictitious and altered documents.
Police conducted an operation on March 3, at the SESLOC on Broad Street in San Luis Obispo where they contacted the suspect, identified as Gary Nelson, 27, of Bakersfield.
Police say Nelson walked into SESLOC and signed loan documents under false pretenses. Detectives monitored the transaction and contacted Nelson as he walked out.
Nelson was arrested for theft/fraud under false pretenses and was booked into the San Luis Obispo County Jail.
The San Luis Obispo Police Department says the investigation is ongoing.