OXFORD, Miss. – Former Water Valley Loan Officer William J. Pullen, 38, has been arrested on federal bank fraud charges, Grimy Times has learned.
Pullen, a resident of Water Valley, MS, was taken into custody last week and charged with Bank Fraud in violation of Title 18, United States Code, Section 1344 and Embezzlement by a Bank Officer in violation of Title 18, United States Code, Section 656.
The former loan officer faces a maximum of thirty years in prison, a $1,000,000 fine, five years of post-release supervision and restitution in the amount of loss. He has entered a plea of not guilty to all counts of an Indictment.
According to the indictment, Pullen allegedly committed the crimes while working at a financial institution. Details of the alleged scheme have not been disclosed.
Pullen was released pending his trial on a $5,000 secured bond. His trial is currently set for November 23, 2015.
The investigation was conducted by the United States Attorney’s Office for the Northern District of Mississippi, FDIC – Office of Inspector General, Dallas Regional Office and USDA – Office of Inspector General, Southwestern Region.
United States Attorney Felicia C. Adams, Special Agent in Charge of the FDIC – Office of Inspector General, Laurie L. Younger, and Special Agent in Charge of the USDA – Office of Inspector General, Patrick Munday announced the arrest.
This case highlights the importance of oversight and accountability in the financial sector. Grimy Times will continue to follow this story and provide updates as more information becomes available.
In related news, the FDIC has issued a statement warning consumers to be cautious when dealing with financial institutions and to report any suspicious activity.
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Key Facts
- State: Mississippi
- Category: Bank Fraud|White Collar Crime|Financial Crimes
- Source: DOJ Press Release â†â€â€
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