Search This Blog

Monday, September 15, 2014

Texas bank VP sentenced to 30 months for loan fraud

A former bank vice president was sentenced to federal prison in U.S. District Court in Waco, Texas for embezzling tens of thousands of dollars.
U.S. District Judge sentenced Cory Cole to 30 months in federal prison, followed by five years on supervised released.
He was also ordered him to pay a $50,000 fine.
Cole embezzled the money through loans based on fraudulent documentation.
On July 3, Cole pleaded guilty to one count of theft or embezzlement by a bank employee.
He admitted that beginning in January 2013, while service as a vice president of Citizens State Bank in Itasca, he stole bank funds by approving more than 20 fraudulent loans

No comments:

Post a Comment