Jason McMillan, Bank Fraud, Georgia 2024

State: Georgia
Category: Fraud &#038; Financial Crimes
Source: <a href="https://www.justice.gov/usao-sdga/pr/swainsboro-ga-banker-admits-obtaining-hundreds-thousands-dollars-fraudulent-loans" style="color:#cc0000;" target="_blank" rel="nofollow noopener">DOJ Press Release ÃƒÂ¢Ã¢â‚¬Â Ã¢â‚¬â€

SAVANNAH, GA: A former commercial loan officer at a Chatham County bank has admitted to obtaining hundreds of thousands of dollars in fraudulent loans.

Jason McMillan, 45, of Swainsboro, Ga., pleaded guilty in U.S. District Court to an Information charging him with Bank Fraud, said David H. Estes, Acting U.S. Attorney for the Southern District of Georgia.

As part of his plea, McMillan will never again work as a banker – and that will help protect those institutions and their customers, according to Estes.

According to court documents and testimony, McMillan was employed as a commercial loan officer at a Chatham County branch of a bank when, in July 2009, he used the identity of C.J. without the victim’s knowledge or authorization to obtain a commercial loan for $187,000, “purportedly for obtaining industrial farm equipment.”

During the next four years, McMillan made interest payments on the loan and completed renewal applications to obtain additional loan amounts of $160,000, $157,000, and $250,000. The plea agreement attributes a total of approximately $200,271 in fraudulently obtained funds that McMillan converted to his personal use.

The bank discovered the fraud during an internal investigation.

McMillan faces a statutory penalty of up to 30 years in prison, up to $1 million in fines, significant restitution and asset forfeiture, and up to three years of supervised release after completion of any prison term.

“Purposely stealing from others for one’s own personal benefit is a greedy, criminal act that burdens all involved,” said Steven R. Baisel, Special Agent in Charge of the Atlanta Field Office of the U.S. Secret Service.

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