Cody Gene Bomhak, Bank Embezzlement, Oklahoma 2023

Bank of Union Scandal Rocks El Reno Community

El Reno, OK – In a shocking turn of events, three El Reno men have pleaded guilty to their roles in the failure of The Bank of Union, resulting in a massive loss of funds for the bank.

Cody Gene Bomhak, 34, Terry Gene Bomhak, 53, and Gary Dean Bomhak, 50, all of El Reno, Oklahoma, entered guilty pleas last week for their involvement in the bank’s failure, announced Mark A. Yancey, Acting United States Attorney for the Western District of Oklahoma.

According to court documents, the three defendants were each charged with making a false statement for the purpose of influencing the action of The Bank of Union, in violation of 18 U.S.C. § 1014. At their change of plea hearings before U.S. District Judge Timothy D. DeGiusti, Cody and Terry Bomhak each admitted that their conduct resulted in a loss of between $25,000,000.00 and $50,000,000.00 to The Bank of Union. Gary Bomhak admitted to conduct causing between $3,500,000.00 and $9,500,000.00 in loss to the bank.

Juston Tech, 39, also from El Reno, previously pleaded guilty to making false statements in order to influence The Bank of Union. At his plea hearing late last year, Tech admitted to causing a loss amount of between $2,500,000.00 and $7,000,000.00 to the bank.

The defendants face up to 30 years in prison, a $1,000,000 fine, and up to five years of supervised release. According to the terms of their plea agreements, they will also be ordered to pay restitution to the victims of their conduct in an amount to be determined by the court at the time of sentencing.

This case is the result of an investigation by the Federal Deposit Insurance Corporation and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney Julia E. Barry.

The bank scandal has left many in the El Reno community reeling, and the guilty pleas by the three defendants are seen as a major step towards justice being served. The investigation and prosecution of this case serve as a reminder of the importance of holding individuals accountable for their actions and the devastating consequences of bank embezzlement.

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