Former Missouri bank president indicted
December 2, 2009
Total Loss:
$4 million
A former Missouri bank president has been charged in a three-and-a-half-year spate of fraud that prompted the bank to fold soon after he left the post. According to a federal indictment returned today, Jeffrey W. Thompson, 39, of Hume faces 13 counts for defrauding Hume Bank, where he was president from 2001 to 2007. The bank incurred large losses when, among other things, Thompson allegedly altered the books to erase past-due principal and interest on multiple loans to his relatives and in-laws. The indictment alleges Thompson made false statements to the FDIC and concealed loan activity from the bank's board of directors. The FDIC insurance fund spent more than $4.3 million to meet obligations to Hume Bank depositors after it closed.
Source:
Kansascity.com
Posted in:
Internal Fraud