Bank President’s Arson and Fraud Scheme Goes Up in Smoke
For Immediate Release
U.S. Attorney's Office, Eastern District of Texas
SHERMAN, Texas – A former bank president has been sentenced to federal prison for violations in the Eastern District of Texas, announced Acting United States Attorney Nicholas J. Ganjei today.
Anita Gail Moody, 57, of Cooper, Texas pleaded guilty on June 5, 2020, to conspiracy to commit bank fraud and arson and was sentenced to 96 months in federal prison today by U.S. District Judge Amos L. Mazzant, III. Moody has additionally agreed to pay restitution in the amount of $11,136,241.82.
According to information presented in court, on May 11, 2019, while Moody was President of Enloe State Bank in Cooper, Texas, the bank suffered a fire that investigators later determined to be arson. The fire was contained to the bank’s boardroom, however the entire bank suffered smoke damage. Investigation revealed that several files had been purposefully stacked on the boardroom table, all of which were burned in the fire. Notably, the bank was scheduled for a review by the Texas Department of Banking the very next day. Further investigation revealed Moody had created false nominee loans in the names of several people, including actual bank customers. Moody eventually admitted to setting the fire in the boardroom to conceal her criminal activity concerning the false loans. She also admitted to using the fraudulently obtained money to fund her boyfriend’s business, other businesses of friends, and her own lifestyle. The fraudulent activity, which began in 2012, resulted in a loss to the bank of approximately 11 million dollars.
“Criminal conduct that affects the financial health of a small, local lender can send a negative ripple effect throughout the entire community,” said Acting United States Attorney Nicholas J. Ganjei. “The Eastern District of Texas will vigorously prosecute cases, such as the one here, that undermine public confidence in our local banks. We are also deeply appreciative of the excellent investigative work of the FDIC Office of the Inspector General, and the Bureau of Alcohol, Tobacco, Firearms and Explosives in bringing this matter to a close.”
Jeannie Swaim, who served as vice president of Enloe State Bank, and who was also involved in fraudulent conduct, was previously sentenced to 24 months’ imprisonment, and agreed to pay restitution in the amount of $410,675.18.
This case was investigated by the FDIC-OIG and the Bureau of Alcohol, Tobacco, Firearms, and Explosives and prosecuted by Assistant United States Attorneys Maureen Smith and Wes Wynne.
Updated February 23, 2021