Former Executive Jailed for Falsifying Bank Assets

Allison Tussey —  April 13, 2015 — Leave a comment

Mark A. Nixon, 62, Freedom, Oklahoma, former Executive Vice President of The Freedom State Bank was sentenced by United States District Judge Stephen P. Friot for his involvement in falsifying bank assets to the FDIC.

On December 15, 2014, Nixon pled guilty and admitted to preparing and submitting a Consolidated Report of Condition and Income to the FDIC which falsely stated that The Freedom State Bank possessed $21,950,000.00 in assets, when he in fact knew that the true amount was substantially less.

In the sentencing hearing, Nixon was ordered to serve 15 months in prison, followed by one year of supervised release, and was ordered to pay $1,557,808.89 in restitution to the FDIC.  He was ordered to report to the Bureau of Prisons on May 14, 2015, to begin serving his sentence.

Sanford C. Coats, United States Attorney for the Western District of Oklahoma, announced the sentence.

This case is the result of an investigation by the FDIC Office of Inspector General.  It was prosecuted by Assistant U.S. Attorney Julia E. Barry.

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Allison Tussey

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