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Posted: Saturday, October 26th 2013 at 10:03am

Former Ga bank executive pleads guilty in fraud

By The Associated Press
EMAIL STORY CONTACT EDITOR PRINT
SAVANNAH, Ga. (AP) -- A former executive pleaded guilty in a fraud scheme that contributed to the failure of a Georgia bank three years ago.

Authorities say 63-year-old Jay Patrick Gardner entered the plea in federal court in Savannah on Friday.

Gardner was a vice president of the First National Bank of Savannah, which regulators shut down in June 2010.

The Savannah Morning News ( http://bit.ly/1bp468z ) reports that Gardner admitted his involvement in a $74,000 loan which federal prosecutors say was part of a scheme to cover financial problems for a real estate developer.

Gardner is one of seven former First National officers named in a 35-count indictment. He has agreed to cooperate with prosecutors.

The six remaining defendants are set for trial Dec. 4. Each has pleaded not guilty.
Associated Categories: Business News, Local/State News

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