A shocking case of bank fraud has come to light in Billings, Montana. Jordan Andrew Hennessy, a 38-year-old man employed by First Interstate Bank, has pleaded guilty to one count of bank fraud.
The incident began on March 11, 2022, when Hennessy, who was working as the commercial relationship manager for First Interstate Bank in Billings, submitted a commercial loan application for $100,000 under the name of his father’s business, Stillwater Group, LLC.
Hennessy stated in the application that Stillwater Group would use the funds to develop real estate projects in Montana. He then opened a checking account, naming his father as a joint owner, on March 14, 2022.
Hennessy’s position allowed him to negotiate the counteroffer to his own loan request, resulting in a $50,000 line of credit being issued to Stillwater Group. He then transferred the funds from the joint account into his personal checking account and used them to finance several transactions with an internet-based investment company.
Hennessy’s actions have left many in the community stunned. The U.S. government alleges that Hennessy falsified a loan application and awarded himself $50,000 while employed by First Interstate Bank.
Hennessy faces up to 30 years in prison, a $1 million fine, five years of supervised release, and a $100 special assessment. U.S. Magistrate Judge Timothy J. Cavan presided over the case, and sentencing was set for a later date.
The U.S. District Judge Susan P. Watters will determine a sentence after considering the U.S. Sentencing Guidelines and other statutory factors. Hennessy was released pending further proceedings.
Assistant U.S. Attorney Colin Rubich is prosecuting the case. The Federal Deposit Insurance Corporation Office of Inspector General and the Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau conducted the investigation.
Key Facts
- State: Montana
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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