April 7, 2017
By Bob Coleman
Editor, Fraud Friday
Fraud Friday — Alabama Community Banker Gets Two Years in Jail for Loan Fraud
John Vann is sentenced to 24 months in federal prison, followed by 60 months of probation after pleading guilty to one count of bank fraud.
He was also ordered to pay $120,774 in restitution to Trustmark National Bank.
John was the president of Trustmark’s bank in Bibb county, Alabama.
Where he took out 31 loans from the bank using the names of other individuals and business entities without their permission.
He forged bank paperwork and pocketed the loan proceeds.
At his sentencing hearing, “Vann was also described as a ‘devoted husband and father to his children.’
“Numerous letters submitted to the court by friends and family members described Vann’s fraud scheme as ‘out of character’ and said he is remorseful for his actions.”