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Case Highlights

The following are highlights of our work during the April 1, 2017–September 31, 2017, semiannual reporting period. Closed investigative reports are not made public and are subject to disclosure in accordance with applicable law. However, significant investigative results and other investigative statistics are reported in our Semiannual Report to Congress, as required by statute.

Former Acting President of CFG Community Bank Indicted
A former acting President of CFG Community Bank was charged in an indictment with one or more counts of bank fraud, theft by a bank officer, conspiracy to defraud the United States, and tax evasion. Another subject was charged with conspiracy to defraud the United States and tax evasion. The indictment alleged that over $875,000 of the bank's loan proceeds was diverted to the former acting President's personal benefit or to the benefit of a friend.

Former President and Chief Executive Officer of Farmers Exchange Bank Pleaded Guilty to Bank Fraud, False Entries, and False Statements
The former President and Chief Executive Officer of Farmers Exchange Bank in Neshkoro, Wisconsin, pleaded guilty to three counts of bank fraud; one count of false entries, reports, and transactions; and one count of false statements. The defendant also signed a stipulation and settlement agreement, in which he agreed that the $338,000 seized from his bank accounts pursuant to a seizure warrant, which were monies derived from proceeds of traceable theft, embezzlement, or misapplication of funds by a bank holding company officer, would be paid to the other shareholders of FEB Bancshares, Inc.

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