Tuesday, March 21, 2017

Former Jackson County Loan Officer Sentenced to 18 Months in Prison for Bank Fraud privateofficer.com

PANAMA CITY, FLORIDA March 21 2017 – Kevin R. Griffin, 44, of Alford, Florida, was sentenced to 18 months in federal prison yesterday and ordered to pay $480,785.06 in restitution to First Federal Bank of Florida for committing bank fraud. The sentence was announced today by Christopher P. Canova, United States Attorney for the Northern District of Florida.
Griffin was employed by the Bank of Bonifay, which later became the First Federal Bank of Florida. Between 2010 and 2012, Griffin used his position as a loan officer to give customers undocumented loans that were actually funded by embezzling money from other customers’ bank accounts without authorization. Griffin obtained loans for customers using other customers’ bank assets as collateral, without permission, and forging loan documents. Griffin also embezzled money from bank customers for his own personal benefit. After the fraud was discovered, Griffin’s employment with the bank was terminated.
“This defendant had a duty to make truthful transactions on behalf of his company to help ensure a sound banking industry, and he violated that duty,” said U.S. Attorney Canova. “My office is committed to prosecuting unethical financial representatives who abuse their authority for their own gain.”
Federal Reserve Board representatives stated: “Griffin’s false and fraudulent representations in loan applications and loan documents directly impacted the accuracy of the Bank of Bonifay’s Consolidated Reports of Condition and Income (Call Report), which provides quarterly financial data regarding a bank’s financial condition and the results of its operations. The Federal Reserve Board relies on the accurate submission of call report data to effectively regulate and oversee the safety and soundness of the bank’s holding company.”
This case resulted from an investigation by the Florida Department of Law Enforcement, the Federal Bureau of Investigation, and the Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau. Assistant United States Attorney Alicia Kim prosecuted the case.
The United States Attorney’s Office for the Northern District of Florida is one of 94 offices that serve as the nation’s principal litigators under the direction of the Attorney General. To access public court documents online, please visit the U.S. District Court for the Northern District of Florida website. For more information about the United States Attorney’s Office, Northern District of Florida, visit http://www.justice.gov/usao/fln/index.html.

Via Press Release US Department of Justice

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