Former Bank Executive Indicted On Fraud Charges
For Immediate Release
U.S. Attorney's Office, Northern District of West Virginia
1125 Chapline Street, Federal Building, Suite 3000 ● Wheeling, WV 26003
(304) 234-0100 ● Contact: Chris Zumpetta-Parr, Public Affairs Specialist
CLARKSBURG, WEST VIRGINIA – A former bank vice-president has been indicted on charges of fraudulently obtaining loans in the name of an elderly relative.
United States Attorney William J. Ihlenfeld, II, announced that John P. AMAN, 60 years old of Clarksburg, has been charged with eleven counts of “Bank Fraud.” AMAN, who formerly worked as an executive at Huntington National Bank and West Union Bank, is accused of borrowing nearly half a million dollars in the name of an in-law by abusing a power of attorney that the victim had provided to him. AMAN also is alleged to have abused his position at Huntington Bank and West Union Bank to bypass various policies and regulations that may have prevented the loans from being approved. He is also alleged to have misrepresented the purpose of the loans to the lenders.
In addition to his loans with Huntington and West Union, AMAN is accused of fraudulently borrowing funds from Freedom Bank and using stock owned by the victim as collateral for that loan. When the required payments on the loan at Freedom Bank were not made the victim’s stock was sold to satisfy the obligation. The victim of the scheme died in 2011 at the age of 89.
“A power of attorney can be a valuable tool but it can also be abused if entrusted to the wrong person," said U.S. Attorney Ihlenfeld. "Unfortunately, older West Virginians are oftentimes on the wrong end of schemes involving the fraudulent use of these very powerful documents."
AMAN faces up to 30 years in prison on each of the 11 counts, and a fine of up to $1 million. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant. The U.S. Attorney’s Office is also seeking a money judgment against AMAN in the amount of at least $372,164.
The case was investigated by the Federal Bureau of Investigation and will be prosecuted by Assistant United States Attorney Andrew R. Cogar. An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.
Updated January 7, 2015