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FOR IMMEDIATE RELEASE |
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PELL CITY MAN CHARGED WITH BANK FRAUD AND MAKING FALSE STATEMENTS
BIRMINGHAM, AL - An Indictment was filed today in U.S. District Court charging KEVIN RUSSELL FLOURNOY with bank fraud and making a false statement to a federally insured financial institution.
According to the indictment, FLOURNOY, 24, of Pell City, submitted a series of false loan applications to Union State Bank ("USB") in 2002 and 2003. At the time of this activity, FLOURNOY was an employee of USB. In each of the loan applications, FLOURNOY represented to the bank that he possessed or intended to use the loan proceeds to acquire collateral as security for repayment. The indictment charges that FLOURNOY in fact, either did not possess or did not intend to acquire, such collateral. The indictment also charges that FLOURNOY submitted a credit application to USB which falsely represented his financial condition.
"The significant risk that financial institution fraud poses to our nation's banking system is heightened when that fraud is carried out by bank employees, the very individuals who are supposed to safeguard the institution's interests," stated U.S. Attorney Alice H. Martin.
FLOURNOY faces up to thirty years in prison and a fine of $1,000,000 on each count charged in the indictment.
This matter was investigated by Special Agents of the Federal Bureau of Investigation. Assistant United States Attorney William C. Athanas is prosecuting this case on behalf of the U.S. Government.
Members of the public are reminded that the indictment contains only charges. A defendant is presumed innocent of the charges and it will be the government's burden to prove a defendant's guilt beyond a reasonable doubt at trial.
United States Attorney's
Office Press Releases are also on the Internet visit www.usdoj.gov/usao/aln
Jill Ellis, Public Information Officer, 205-244-2015