Archives For Bank Fraud

Randy Gard Teall, 67, Post Falls, Idaho, pleaded guilty to bank fraud. Teall was indicted by a federal grand jury in Coeur d’Alene, Idaho on June 17, 2014.

According to the plea agreement, Teall admitted he was a loan officer at Global Credit Union, a federally insured financial institution in Coeur d’Alene, Idaho. With the intent to defraud, Teall executed a scheme to procure loans from Global Credit Union using false promises or statements on loans he approved to individuals with whom he had a business relationship. Teall failed to disclose his personal and business relationship and the borrowers’ true financial worth. Some of Global’s loan funds were used to pay rent to Teall.

The charge of bank fraud is punishable by up to 30 years in prison, a maximum fine of $250,000, and up to five years of supervised release.

Sentencing is set for December 15, 2015, before Senior U.S. District Judge Edward J. Lodge at the federal courthouse in Coeur d’Alene.

The indictment was announced by U.S. Attorney Wendy J. Olson.The case was investigated by the Federal Bureau of Investigation.

“He defrauded lenders, his employers, his clients and his friends during a lengthy period of nearly uninterrupted criminal conduct. As an attorney, he has violated everything that his profession holds sacred and embarrassed us all.”

Assistant U.S. Attorney Brendon Conway, in presentence filings, after bank fraud guilty plea by Pennsylvania lawyer Eric Sobkiewicz

Diana Yates, former Chief Financial Officer of the Bank of Oswego (Oregon), Sherwood, Oregon and Dan Heine, former Chief Executive Officer of the Bank of Oswego, Naples, Florida, were indicted by a grand jury and charged with one count of conspiring to defraud The Bank of Oswego and 26 counts of false entries in bank records. Both were arrested on Friday, June 26, 2015 and Yates made her appearance in Portland, Oregon before the Honorable John Acosta. Heine was arraigned in the Middle District of Florida and will make an appearance in the District of Oregon on a later date. Continue Reading…

Linda Sue Newcomb, 62, Madison Heights, Virginia, former manager of the Lynrocten Federal Credit Union, Lynchburg, Virginia, was indicted by a federal grand jury and charged with embezzlement, bank fraud and aggravated identity theft charges for allegedly originating fictitious loans, then selling those loans to credit union partners.

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Matthew Scott Bernard, 44, Baton Rouge, Louisiana, was sentenced today by U.S. District Judge James J. Brady to serve 41 months in federal prison for his role in a fraudulent scheme to secure financing.

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John Murphy, 63, Nesconset, New York, the former chief executive officer of Oak Rock Financial LLC, pled guilty to bank fraud before United States Magistrate Judge Gary R. Brown at the United States courthouse in Central Islip, New York.

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Eric H. Menden, 53, Chesapeake, Virginia, was sentenced to 138 months in prison, followed by three years of supervised release, for engaging in a $41 million bank fraud scheme that contributed to the failure of the Bank of the Commonwealth and a separate historic-tax-credit fraud scheme that cost state and federal governments over $12 million and investors more than $8 million.

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Willard T. Scott, 33, Nacogdoches, Texas, has pleaded guilty to federal violations in the Eastern District of Texas for making false entries in bank records.

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Clayton A. Coe, 45, McDonough, Georgia, a former Senior Commercial Loan Officer for FirstCity Bank of Stockbridge, Georgia, which failed and was seized by the FDIC and state banking authorities in March 2009, pleaded guilty to bank fraud in connection with an $800,000 loan that he tricked FirstCity Bank’s Board of Directors into approving and from which he personally profited. 

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Recardo S. Lewis, 61, Norfolk, Virginia, pled guilty federal court to conspiring with others to defraud the Bank of the Commonwealth by submitting fraudulent draws on a multi-million construction project in Virginia Beach, Virginia.

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