Mark Warne, 46, of Brook, Indiana, has been sentenced to 78 months imprisonment for his role in a bank fraud scheme that defrauded Community State Bank of over six million dollars.
According to the United States Attorney David A. Capp, Warne pleaded guilty to Bank Fraud and was sentenced by Chief Judge Philip Simon. In addition to his prison sentence, Warne was also ordered to pay $3,410,223 in restitution and serve 2 years of supervised release.
The scheme, devised by Warne, involved issuing fraudulent loans using the identities of four known individuals, three of whom were related to Warne. None of the individuals whose identities were used received any of the proceeds from the loans. Warne concealed the loans from bank board members by creating two sets of minutes for the meetings of the board of directors.
One set of minutes was for the bank’s board of directors to read and approve, while a second set was created for the Federal Deposit Insurance Corporation (FDIC) examiners to review. The minutes shown to the FDIC examiners made it appear as if the bank’s board of directors was aware of the loans, while the actual board minutes made no mention of the loans.
Warne served as President of Community State Bank from September 2010 to September 2015, during which time he carried out the scheme to defraud the bank. His employment with the bank ended after his scheme was uncovered. The case was investigated by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation, Office of Inspector General.
The case is being prosecuted by Assistant United States Attorneys Joshua P. Kolar and Abizer Zanzi. The sentencing of Mark Warne serves as a reminder of the consequences of white-collar crime and the importance of holding individuals accountable for their actions. The investigation and prosecution of this case demonstrate the commitment of law enforcement agencies to combating financial crimes and protecting the integrity of the banking system.
In a statement, United States Attorney David A. Capp praised the work of the investigators and prosecutors involved in the case, saying that their efforts have brought a measure of justice to the victims of Warne’s scheme. The sentencing of Mark Warne is a significant outcome in the ongoing fight against white-collar crime, and it serves as a warning to others who would engage in similar illicit activities.
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Key Facts
- State: Indiana
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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