Joseph M. Braas doesn't have the ideal job-hunters' résumé.

He's admitted committing three felonies and helping to run a sophisticated loan fraud at a former employer, Equipment Finance Inc.

But still, with two children to support, he's searching for a new job, while free on $50,000 bail as he awaits sentencing next month.

And Braas believes there's one modification to the terms of his bail that would improve his chances dramatically — getting rid of the electronic monitoring bracelet.

Braas, in a new court filing, is "begging" a federal judge to let him stop wearing the device.

"Mr. Braas is actively seeking employment elsewhere at this time due to his desperate financial situation," wrote his attorney, Cory J. Miller.

In a motion filed electronically in Philadelphia federal court on Sunday, Miller continued:

"The monthly costs of electronic monitoring as well as the limitation on movement have severely constrained (him), making his difficult employment search all the more desperate."

The cost was not specified in the motion, nor was the curfew that the bracelet enforces.

Miller and Braas could not be reached for comment Monday.

Braas, 45, of 543 Creekside Lane, Lititz, was among eight people indicted in November for their alleged roles in the scheme.

In December, Braas, formerly EFI's chief operating officer, pleaded guilty to three of nine charges he faced.

Braas admitted one count of conspiracy and two counts of mail fraud. The other counts were dropped.

That change of plea had two immediate consequences for Braas.

Braas was promptly fired from his post-EFI job at Schwan's Inc., according to the filing.

Schwan's makes home deliveries of groceries. His job was not specified.

And the judge who accepted the plea imposed electronic monitoring on Braas.

Miller argued that the electronic monitoring bracelet is not necessary to keep tabs on his client.

Braas, who lives in a "basic apartment" with his two school-age sons, is not a risk to flee the area, his attorney wrote.

The boys are enrolled in local schools while Braas' mother lives in Columbia, Miller noted.

In addition, Braas has "voluntarily participated" with the federal probe of EFI for three years, the attorney said.

"Mr. Braas has been compliant with all requests for information during that same period of time … ," Miller added.

The attorney pointed out that two other former EFI employees have pleaded guilty and neither has to wear monitoring bracelets.

EFI was part of Lancaster-based Sterling Financial, best known as the owner of Bank of Lancaster County.

The fraud, disclosed by Sterling in 2007, involving creating hundreds of bogus loans and covering up problems at real loans.

Upon discovering the fraud, Sterling quickly fired Braas and his alleged conspirators at EFI.

The fiscal damage caused by the fraud forced Sterling to sell itself to PNC, leading to 300 layoffs at Sterling.

tmekeel@lnpnews.com