Delta county bank president guilty of bank fraud

SHERMAN Texas – According to U.S. Attorney Stephen J. Cox, A 57-year-old former bank president has been found guilty of federal violations in Texas. 

Delta County Bank President Guilty of Bank Fraud and Arson Violations https://t.co/RU0HCVYm1D

— U.S. Attorney EDTX (@USAO_EDTX) June 5, 2020

Anita Gail Moody, of Cooper, Texas, pleaded guilty to the plot of committing bank fraud and arson before U.S. Magistrate Judge Christine A. Nowak.

As per the information provided, Moody was President of Enloe State Bank in Cooper, Texas. On May 11, 2019, the bank had reported a fire that was thought to be arson. Although the fire remained in the bank’s boardroom, the entire bank experienced smoke damage. Several files present in the room were burned in the fire. Coincidentally, the very next day the bank was scheduled for a review by the Texas Department of Banking. After further investigation, it was revealed that Moody had been creating fake nominee loans in the names of a number of people, including some actual customers. 

After interrogation, Moody admitted to setting the fire to conceal the criminal activity related to the false loans. She also admitted to using the stolen money to improve her lifestyle and support the businesses of her boyfriend and friends. The series of criminal activity began in 2012, resulting in a loss of around $11 million to the bank. 

Moody has been sentenced to 84 months in federal prison and the restitution payment in the amount of $11,136,241.82. After the investigation is completed by the U.S. Probation Office, a sentencing hearing will be scheduled.

The investigation of this case was conducted by the FDIC-OIG and the Bureau of Alcohol, Tobacco, Firearms, and Explosives, and prosecution by Assistant U.S. Attorneys Maureen Smith and Wes Wynne.