A bank insider and his co-conspirator admitted to running a nine-year fraud scheme that falsified loan applications to obtain funds.
In a press release, the U.S. Attorney’s Office for the Southern District of Illinois says that former Tempo Bank senior loan officer Francis Eversman and construction company owner Gregg Crawford pleaded guilty to conspiracy to commit bank fraud in a scheme that spanned between 2011 and 2020.
Prosecutors say that Crawford recruited straw purchasers to serve as loan applicants in name only for properties that were often extremely overvalued. His brother-in-law, Eversman, would facilitate the approval process of the loans.
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Crawford used the proceeds of the loans for purposes other than the purchase of the properties. He also provided fake lease agreements in an effort
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