William J. Burnell, Bank Fraud Conspiracy, Louisiana 2023
Former First NBC Bank Officers Sentenced for Bank Fraud Conspiracy
NEW ORLEANS, LA - On September 28, 2023, United States District Judge Eldon E. Fallon sentenced three former First NBC Bank officers for their role in the bank fraud conspiracy that led to the collapse and failure of the New Orleans-based bank in April 2017.
William J. Burnell, age 73, of Kenner, was sentenced to 48 months in prison, three years of supervised release, and a $100 mandatory special assessment fee. Burnell, who was the Bank’s Chief Credit Officer, was responsible for the overall quality of the Bank’s lending function; the Bank’s credit policies and administration; the Bank’s loan recovery and collection efforts; and the Bank’s monitoring and managing of past due loans.
Burnell conspired with Bank President, Ashton J. Ryan, Jr., and others, to conceal material information and defraud the Bank. Among other things, Burnell fraudulently risk rated loans to past due borrowers so new loans could be issued to them to conceal the borrowers’ past due status from the Board.
The sentences demonstrate the U.S. Attorney’s commitment to prosecuting white collar crime and that employees cannot use the defense that they were merely ‘following orders.’ Each citizen has an individual responsibility to follow the law.
The investigation was conducted by the Federal Bureau of Investigation New Orleans Field Office; the Federal Deposit Insurance Corporation, Office of Inspector General, Dallas Regional Office; and the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Office of Inspector General, Miami Field Office.
The prosecution was handled by Assistant U.S. Attorneys Matthew R. Payne, Nicholas D. Moses, J. Ryan McLaren, and Rachal Cassagne.
The exact criminal charges against Burnell are bank fraud conspiracy. The crime occurred from 2006 through April 2017.
The defendant’s real full name is William J. Burnell, and the city and state are Kenner, Louisiana. The exact date of the sentencing is September 28, 2023. The sentence includes 48 months in prison, three years of supervised release, and a $100 mandatory special assessment fee.
The dollar amount applicable is the $100 mandatory special assessment fee.
Key Facts
- State: Louisiana
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →