William O. Walker, 43, Clinton, Mississippi, was sentenced in U.S. District Court on Friday, August 19, 2011, to serve 24 months in federal prison and to pay restitution to Trustmark National Bank in the amount of $86,588.55. Additionally, a money judgment of forfeiture was ordered in the amount of $86,588.55.
Walker was the assistant branch manager for Trustmark, Clinton, Mississippi. Beginning in August, 2006, and continuing through January, 2011, Walker used the identities of Trustmark customers, as well as their certificates of deposits as collateral, and fraudulently forged their signatures in order to create loans in the names of the defrauded customers. He then deposited the proceeds from these loans into his personal account, cashed some of the proceeds, and used some of the proceeds to pay the previously obtained fraudulent loans he had created.
This case was investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Mike Hurst.
Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.