A Georgia man is accused of orchestrating a massive bank fraud scheme involving millions of dollars.
The Scheme
Ronnie Atkinson, a 56-year-old logging company owner from Macon, Georgia, allegedly conspired with a high-ranking bank executive to defraud a local community bank of over $3 million. The scheme involved using friends and family members as “straw borrowers”—people with good credit who applied for loans on Atkinson’s behalf. These loans were then used to benefit Atkinson directly.
Inflated Bills and Fake Documents
Atkinson allegedly submitted fake and inflated invoices for logging equipment to justify the loan applications. In one instance, a real invoice for $56,000 was used to secure a loan of $149,500. Some invoices were completely fabricated for equipment that was never purchased. The bank executive allegedly knowingly approved these loans, even allowing Atkinson to exceed his lending limit.
The Charges
A grand jury indicted Atkinson on charges of conspiracy to commit bank fraud and identity theft. He faces up to 30 years in prison and a $1 million fine. The government is also seeking to seize any assets obtained through the fraudulent activities. The bank executive’s involvement is also under investigation.