A former bank officer and a construction company owner admitted to a massive fraud scheme that lasted almost a decade.
Millions Stolen Through Fake Loan Applications
Francis Eversman, a senior loan officer at Tempo Bank, and Gregg Crawford, a construction company owner, pleaded guilty to conspiracy to commit bank fraud. Their scheme, running from 2011 to 2020, involved falsifying loan applications to get money from the bank.
Crawford found people to apply for loans—these were “straw purchasers”—who didn’t actually intend to buy the properties. The properties were often grossly overvalued. Eversman, Crawford’s brother-in-law, then helped push the loans through the approval process.
Crawford used the loan money for things other than buying the properties. He even created fake lease agreements to make it seem like the properties were generating rental income.
Caught During an Audit
When bank regulators started investigating suspicious loans, Crawford tried to cover his tracks by telling one of the straw purchasers to lie to the auditors.
FBI Investigation and Consequences
FBI officials called the scheme a betrayal of public trust. Eversman and Crawford face up to 30 years in prison, five years of supervised release, and a million-dollar fine. Their sentencing is scheduled for October 14th.