- Associated Press - Thursday, January 23, 2014

SAVANNAH, Ga. (AP) - A Savannah man has become the seventh former officer of a failed Georgia bank to plead guilty to federal charges in what prosecutors called an illegal cover up of bad loans that cost $90 million in deposit insurance.

Authorities said 37-year-old Alan Robert Fleming pleaded guilty Tuesday to two counts of bank fraud in U.S. District Court in Savannah. Four other former officers of the First National Bank of Savannah pleaded to related charges last week. The bank’s former president, Heys McMath III, and one of its vice presidents entered guilty pleas last fall.

Prosecutors charged the seven bankers a year ago, saying they tried to hide millions of dollars in non-performing loans from regulators and the bank’s board of directors. First National Bank was shut down in June 2010.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide