Bank Fraud Kingpin Sentenced to 54 Months

A 68-year-old Covington man has been sentenced to 54 months in prison for conspiring to commit bank fraud, a scheme that netted him $1,540,973.39.

ROY JOSEPH BUSIERE, a former comptroller for A & H Armature Works, Inc., pleaded guilty to the crime and was sentenced by U.S. District Judge Kurt D. Engelhardt. As part of his sentence, BUSIERE was ordered to pay $1,540,973.39 in restitution.

According to court documents, BUSIERE conspired with another individual to steal from A & H Armature Works, Inc. by using Paypal and American Express accounts to transfer the funds.

The scheme was uncovered by the United States Secret Service, New Orleans Field Division, which praised the work of Assistant United States Attorney Loan A. ‘Mimi’ Nguyen, who was in charge of the prosecution.

BUSIERE’s crimes were committed while he was working as a comptroller for A & H Armature Works, Inc., a company that banked with First American Bank. The bank was left to bear the loss of the stolen funds.

The sentence marks the culmination of a lengthy investigation into BUSIERE’s activities. His crimes are a reminder that bank fraud can have devastating consequences for businesses and individuals alike.

With his sentence, BUSIERE joins a growing list of individuals who have been held accountable for their role in financial crimes in Louisiana.