BANKRUPT BANKER
Jerry Williams, the former top executive at Orion Bancorp Inc. and the failed Orion Bank, was charged with conspiracy to commit bank fraud.
Thursday, 31 March 2011
A federal grand jury also accused Williams of misapplication of bank funds, mail fraud and wire fraud money laundering and other charges, according to a press statement from the U.S. Attorney for the Middle District of Florida.
Williams was president, chief executive officer and chairman of Orion Bancorp in Naples and Orion Bank, which failed in November 2009, shortly after federal regulators ordered the bank to fire Williams.
The indictment alleges that Williams orchestrated a complex conspiracy to fraudulently raise capital and falsify bank records in order to mislead state and federal regulators as to the bank’s true financial condition.
Three others also were charged in connection with the scheme, the statement said. Francesco Mileto of Tamarac was charged with conspiracy to commit bank fraud, while Thomas Hebble of Naples and Angel Guerzon of West Palm Beach were charged with conspiracy to commit bank fraud and obstruction of a federal bank examination.
Williams, who now lives in Fort Worth, Texas, faces up to 220 years in prison if convicted on all counts. Prosecutors also said they would seek a monetary judgment in the amount of $765,600 against Williams as well as restitution to victims.
