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Illinois Bank President Cook Admits Falsifying Records
BENTON, Ill. – In a shocking admission, Steven Cook, the president of SouthernTrust Bank in southern Illinois, pleaded guilty to three felony counts of aiding and abetting the making of a false bank entry. Cook’s scheme to falsify bank records allowed him to facilitate real estate loans, defrauding innocent parties in the process.
Cook’s scheme involved falsifying records for three real estate transactions with Lawler and Maze Properties LLC in 2022. In one transaction, he approved a loan that funded the sale of seven commercial rental properties in Williamson and Franklin counties from Results Home Buyers 2 to Lawler and Maze. However, Cook and the others agreed to fraudulently make it appear as if the loan was a refinancing, rather than a new purchase. The documents falsely indicated that the buyer purchased the properties on February 1, 2022, for a price of $545,152, when in reality the sale price was $436,122.
Cook’s actions were part of a larger scheme that involved former Williamson County State’s Attorney Brandon Zanotti, who was sentenced in May to two years of probation, a $5,000 fine, and 20 hours of community service for his role in the scheme. Results Home Buyers 2, the seller in the transaction, is partially owned by Zanotti.
Lawler and Maze Properties LLC, the buyers in the transaction, is owned by Justin Maze and David Lawler. They entered into a pretrial diversion program, acknowledging their involvement in the criminal conduct by aiding and abetting Zanotti and Cook. As a condition of the program, Maze was required to resign from his position as Williamson County Circuit Clerk and agreed not to seek re-election to any public office.
Cook’s sentencing hearing has been set for September 19. His ultimate sentence will be determined by the court based on the advisory sentencing guidelines and other statutory factors.
According to the FBI, Cook’s actions demonstrate a “lack of professional responsibility” and “diminish the faith consumers place in the banking process.” The FBI will continue to investigate anyone who takes advantage of their trusted position of employment for personal gain.
The Federal Housing Finance Agency Office of Inspector General (FHFA OIG) also condemned Cook’s actions, stating that “financial fraud is a serious crime with serious consequences and the FHFA OIG will investigate and prosecute allegations of mortgage-related fraud, including fraud committed by officers of financial institutions who have a duty to conduct honest business.”
Cook’s crimes have sent shockwaves through the community, highlighting the need for greater accountability in the banking industry.
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Key Facts
- State: Missouri
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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