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Fraud Friday — Bank VP Photoshops Docs for Loan Fraud

January 5, 2018

By Bob Coleman
Editor, Fraud Friday

Fraud, audit, auditor.

Fraud Friday — Bank VP Photoshops Docs for Loan Fraud

An Eastern Kentucky banker, Martin Ross, used fake names and documentation to obtain fraudulent loans that he would then use to pay his personal debts and expenses.

Over the past ten years Martin obtained 15 fraudulent loans with an outstanding loss of $1,415,082 to Town Square Bank.

How did he do it?

Last July, Martin obtained a loan in the name of Steven Parker for $125,000. To support the loan the bank vice president created all the documentation needed — including false tax returns, credit reports and a brokerage account statement.

Martin engaged in similar fraudulent transactions for another four fictitious clients. He would transfer the proceeds from fraudulently obtained loans to pay on other fraudulent loans or to pay his personal debts and expenses, according to court documents.

In a plea deal, the 52-year old Martin agreed to sell his 2008 Mini Cooper and 2015 Nissan Pathfinder and forfeit the proceeds to assist in satisfying a money judgment of $1.4 million.

Martin is free on bail until he is sentenced in April.

 

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