John P. AMAN, Bank Fraud, West Virginia 2024

A former bank executive in West Virginia has been indicted on 11 counts of bank fraud, authorities announced on Wednesday, March 20, 2024.

According to the indictment, John P. AMAN, 60, of Clarksburg, abused a power of attorney to borrow nearly half a million dollars in the name of an in-law. The scheme allegedly involved using stock owned by the victim as collateral for a loan from Freedom Bank, which was later sold to satisfy the obligation when payments were not made.

The victim of the scheme died in 2011 at the age of 89. The indictment also alleges that AMAN, who worked as an executive at Huntington National Bank and West Union Bank, used his position to bypass policies and regulations that may have prevented the loans from being approved.

“A power of attorney can be a valuable tool but it can also be abused if entrusted to the wrong person,” said U.S. Attorney William J. Ihlenfeld, II. “Unfortunately, older West Virginians are oftentimes on the wrong end of schemes involving the fraudulent use of these very powerful documents.”

AMAN faces up to 30 years in prison on each of the 11 counts and a fine of up to $1 million. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

The U.S. Attorney’s Office is also seeking a money judgment against AMAN in the amount of at least $372,164. The case was investigated by the Federal Bureau of Investigation and will be prosecuted by Assistant United States Attorney Andrew R. Cogar. An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.

The indictment highlights the importance of protecting vulnerable individuals from financial exploitation. It is a reminder that power of attorney documents, while useful, can also be misused if not handled properly.

As the investigation continues, authorities urge anyone who may have information about the case to come forward. The U.S. Attorney’s Office encourages victims of financial abuse to seek help and report any suspicious activity to the authorities.

Related Federal Cases