Wednesday July 6th, 2022 12:06PM

Bank employee sentenced for $750,000 in fraudulent loans

By The Associated Press

SAVANNAH, Ga. (AP) — A former Georgia bank worker has been sentenced to federal prison for using a stolen identity to take out more than $750,000 in fraudulent loans.

A U.S. District Court judge ordered a 10-month prison sentence for Jason McMillan of Savannah after he pleaded guilty to bank fraud charges.

McMillan, 46, used his job as a commercial loan officer at a Chatham County bank to take out four loans between 2009 and 2019, the U.S. attorney's office for Georgia's Southern District said in a news release.

Prosecutors say the loans were taken out using someone else’s identity and fraudulently stated the money was being used to buy industrial farm equipment. Their amounts ranged from $157,000 to $250,000. The bank alerted authorities after an internal investigation flagged the loans.

McMillan admitted in court to spending at least $200,000 of the loan money for personal uses. In addition to his prison sentence, he was ordered to pay $112,430 in restitution.

  • Associated Categories: Associated Press (AP), AP Business, AP Online - Georgia News, AP Online Headlines - Georgia News, AP Business - Industries, AP Business - Financial Services
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