WILMINGTON, Del. — William Cook, a 63-year-old from Berlin, Maryland, was handed a five-year prison sentence today by U.S. District Court Judge Colm F. Connolly for his masterful manipulation of Artisans’ Bank out of $4.2 million.
Cook was convicted after a jury trial in January 2019 of bank fraud, four counts of false statements, and money laundering. The deceit began in 2008 when Cook opened a business line of credit at the Delaware-based bank. He then started falsifying customer debt certificates to siphon more cash from the bank.
For over four years, Cook’s weekly lies allowed him to siphon funds that were supposed to go into his business. When the truth finally surfaced in 2013, Cook was left with nothing to pay back the $4.2 million he owed Artisans’ Bank.
U.S. Attorney David C. Weiss called Cook’s actions a breach of trust that damaged both the bank and the integrity of the financial system. ‘Cook violated the fundamental trust required for lending arrangements,’ Weiss said. ‘My office is committed to investigating and prosecuting fraudulent conduct like this.’
Acting U.S. Postal Inspector John Walker echoed Weiss’ sentiments, emphasizing the continued efforts of law enforcement to combat financial fraud. ‘Postal Inspectors work tirelessly to protect financial institutions from falling victim to these schemes,’ said Walker.
IRS-CI Special Agent Guy Ficco stressed the importance of forensic accounting in unraveling such complex crimes. ‘We are proud to work with our partners to investigate and prosecute those who enrich themselves by fraudulent means,’ he said.
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Key Facts
- State: Delaware
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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