Fort Mitchell Man Sentenced to 18 Months for Bank Fraud

COVINGTON, Ky. - Joseph Shockey, 53, of Fort Mitchell, Ky., was sentenced to 18 months in federal prison on Thursday, by Chief U.S. District Judge Danny C. Reeves, after previously pleading guilty, in January 2020, to bank fraud.           

In his guilty plea agreement, Shockey admitted that, in 2014, he applied for and obtained a line of credit for $500,000 from Stock Yards Bank and Trust Company. Later that same year, Shockey was sued in Utah and ultimately a default judgment in the amount of $579,063 was entered against him in 2015. Shockey extended the line of credit from Stock Yards but failed to advise the bank, as he had agreed to do, of the judgment. Shockey defaulted on the loan and the bank suffered a loss of $463,000. As part of his plea agreement, Shockey agreed to pay $449,496.07, in restitution.

Under federal law, Shockey must serve 85 percent of his prison sentence and will be under the supervision of the U.S. Probation Office for 5 years.

Robert M. Duncan, Jr., United States Attorney for the Eastern District of Kentucky, and James Robert Brown, Jr., Special Agent in Charge, Federal Bureau of Investigation, jointly announced the sentencing

The investigation was conducted by the FBI. The United States was represented by Assistant U.S. Attorney Elaine Leonhard. 

The year 2020 marks the 150th anniversary of the Department of Justice. Learn more about the history of our agency at www.Justice.gov/Celebrating150Years.

— END —