A former commercial loan officer at a bank in Chatham County has been charged with bank fraud after admitting to obtaining hundreds of thousands of dollars in fraudulent loans.
Jason McMillan, 45, of Swainsboro, Georgia, 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.
McMillan’s guilty plea subjects him to 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.
“Customers of financial institutions rightly depend on the integrity of those institutions, and of the staff they employ,” said Acting U.S. Attorney Estes. “As part of his plea, Jason McMillan will never again work as a banker – and that will help protect those institutions and their customers.”
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 case was investigated by the U.S. Secret Service, and prosecuted for the United States by Assistant U.S. Attorney Steven H. Lee and Asset Forfeiture Unit Section Chief Xavier A. Cunningham.
McMillan agrees to forfeit $112,430.32, to pay restitution as ordered by the court, and to consent to an order prohibiting him from future employment as a banker.
McMillan awaits sentencing after pleading guilty in U.S. District Court to an Information charging him with Bank Fraud.
Key Facts
- State: Georgia
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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