Loan Officer Pleads Guilty to Bank Fraud
COEUR D'ALENE - Randy Gard Teall, 67, of Post Falls, Idaho, pleaded guilty today to bank fraud, U.S. Attorney Wendy J. Olson announced. Teall was indicted by a federal grand jury in Coeur d'Alene on June 17, 2014.
According to the plea agreement, Teall admitted he was a loan officer at Global Credit Union, a federally insured financial institution in Coeur d’Alene, Idaho. With the intent to defraud, Teall executed a scheme to procure loans from Global Credit Union using false promises or statements on loans he approved to individuals with whom he had a business relationship. Teall failed to disclose his personal and business relationship and the borrowers’ true financial worth. Some of Global’s loan funds were used to pay rent to Teall.
The charge of bank fraud is punishable by up to 30 years in prison, a maximum fine of $250,000, and up to five years of supervised release.
Sentencing is set for December 15, 2015, before Senior U.S. District Judge Edward J. Lodge at the federal courthouse in Coeur d'Alene.
The case was investigated by the Federal Bureau of Investigation.