FOR IMMEDIATE RELEASE:
THURSDAY - August 12, 2010
FORMER LOAN OFFICER PLEADS GUILTY TO BANK FRAUD
GREENVILLE - United States Attorney George E.B. Holding announced that in federal court yesterday KAREN POPE FERGUSON, 51, of Coats, North Carolina, pled guilty before United States Magistrate Judge David W. Daniel to bank fraud, in violation of Title 18, United States Code, Section 1344.
According to the Criminal Information filed on July 15, 2010, FERGUSON, then a loan officer at the Suntrust Bank in Coats, North Carolina, was asked by a customer on July 22, 2003 to close an equity line of credit in his name at the bank. FERGUSON used the check he provided to reduce the balance on the account to zero, but did not close the account. Instead, she re-directed the mailing address to her own Post Office Box, and made numerous cash advances to herself over the next two and a half years. A total of $90,740.36 was disbursed to FERGUSON.
At sentencing, set for the November, 2010, term of Court, FERGUSON faces up to 30 years’ imprisonment followed by up to five years’ supervised release and a fine of up to $1,000,000. Additionally, FERGUSON has agreed to pay restitution in the amount of $102,725.82 as stipulated in the Plea Agreement.
Investigation of this case was conducted by the United States Secret Service.
News releases are available on the U. S. Attorney’s web page at www.usdoj.gov/usao/nce within 48 hours of release.