Ex-Ga. Bank Executive Pleads Guilty In Fraud
TIFTON, Ga. (AP) — U.S. Attorney’s officials say a Tifton man has pleaded guilty to his involvement in a fraud scheme.
Prosecutors say 47-year-old Gary Patton Hall pleaded guilty Thursday to conspiracy to commit bank fraud.
Authorities say between 2005 and 2010, Hall — who was president and CEO of the Tifton Banking Company — conspired with others to replace non-performing loans with new ones to make the bank look more financially stable than it actually was.
Prosecutors say some of the loans Hall used to replace failing ones were insured by the Small Business Administration.
Officials say the criminal activity continued although the bank received funding from the federal Troubled Asset Relief Program — which is intended to help save failing banks.
Hall’s sentencing is scheduled for Sept. 30.
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