Former Bank Execs Will Plead Guilty to Fraud
August 12, 2009
Total Loss:
$20 million
Two former bank executives accused of fraud in the failed Ramsey Town Center project have reportedly struck a deal to plead guilty to a lesser charge. William Garfield Sandison and his son, Ross William Sandison, are scheduled for a "change of plea" hearing on Aug. 26. The Sandisons and another former Community National Bank executive, Curtis Alan Martinson, were indicted in April on charges ranging from conspiracy to mail fraud, misapplication of bank funds and money laundering. William Sandison is the former president of the bank and Ross Sandison was a vice president.
Source:
Star Tribune
Posted in:
Internal Fraud