FLASH: KERRI AGEE Facing 8 Years In Prison — Sentencing Next Thursday

December 3, 2021

By Joseph Coleman
Contributing Editor

KERRI AGEE Mugshot, Hamilton County, Indiana – 2017-09-03 18:18:00 BWI-BAC .08% or Higher

U.S. Attorney’s in the banc-serv trial are requesting eight-years in prison, plus three years of supervised release, for Kerri Agee, during a sentencing hearing next Thursday (December 9, 2021).

Agee was found guilty on August 4, 2021, on one count of conspiracy to commit wire fraud affecting a financial institution and four counts of wire fraud affecting a financial institution.

All five banc-serv employees will hold sentencing hearings scheduled to begin next week.

A recent development is a settlement in the bankruptcy case Agee faced against Newtek.

“Under the terms of that settlement, which U.S. Bankruptcy Judge James Carr approved Nov. 10, Newtek has been granted a $6.2 million claim in Agee’s bankruptcy case, rather than the $10.4 million Newtek had sought. The court has also imposed a $6.2 million judgment against Agee and in favor of Newtek. The judgment is non-dischargeable, meaning it will not be affected by any discharge of debt Agee might be granted through bankruptcy” according to Susan Orr of the Indianapolis Business Journal.

Indianapolis Business Journal December 3, 2021

Read our previous reporting:

Uh Oh, FBI Raids Banc-serv Campus, Locks Doors — October 13, 2017

Banc-Serv Retains Brent Ciurlino, Appoints Karen McHugh EVP — October 19, 2017

Newtek Forecasts Zero Earnings from banc-serv — November 3, 2017

Kerri Agee out of banc-serv — April 13, 2018

Banc-Serv’s Kerri Agee, 4 others Arrested for $10 Million SBA Loan Fraud — March 22, 2019

“They Got Us” CEO of banc-serv Indicted for $10 Million Loan Fraud Scheme” — August 23, 2019

Fraud Friday – “Working Capital” Fits better than “Past Due Payroll Taxes” — August 30, 2019

“They Got Us” Swapping Business Owners — September 6, 2019

Fraud Friday – banc-serv Second Loan Case Study – September 13, 2019

SBA C-Suite Tips Wednesday – Learn from Small Business Loan Fraud – October 9, 2019