FORMER LOAN OFFICER SENTENCED FOR BANK FRAUD

PRESS RELEASE

Susan W. Brooks, United States Attorney for the Southern District of Indiana, announced that MICAH MOBLEY, 29, of Princeton, Indiana, was sentenced to 26 months imprisonment by U.S. District Judge Richard L. Young following his guilty plea to bank fraud. This case was the result of a investigation by the Federal Bureau of Investigation.

MOBLEY admitted that while working as a senior lending officer for First National Bank of Evansville, between December 2002 and December 2003, he approved automobile loans on behalf of American Auto Centers of Mount Carmel, Illinois, that overstated the value of the automobiles used to secure the loans and misrepresented the credit worthiness of the automobile purchasers. In exchange for the approvals of these bad loans MOBLEY admitted that he received cash kickbacks from American Auto Centers. As a result of the fraud First National Bank of Evansville sustained losses in the amount of $637,381.

According to Assistant United States Todd S. Shellenbarger, who prosecuted the case for the government, Judge Young also imposed 3 years supervised release following MOBLEY’s release from imprisonment. During the period of supervised release, MOBLEY was ordered to make restitution in the amount of $637,381.