He used his banking job to issue fraudulent loans. Accomplice spent the money at casinos.
A former officer at a Pikeville bank has been found guilty of conspiring to have fraudulent loans issued that cost the bank nearly $250,000.
A federal-court jury in Pikeville convicted Brent M. Lee, 41, on nine charges, including conspiracy, aiding bank fraud and misapplication of bank funds by an employee, according to a news release from the office of U.S. Attorney Robert M. Duncan Jr.
Lee, who was a market president for Branch Banking & Trust, or BB&T, was charged in the case with Paul D. Fannin, 49, a Floyd County developer, and Fannin’s daughter Chelsea Stone, 25.
Fannin was developing an eight-unit townhome project called Stone Crest Properties and had an outstanding loan of $950,000 with the bank, according to the release.
Read more here: http://www.kentucky.com/news/state/article200657714.html
