Center Point, Ala., Man Indicted for Bank Fraud

BIRMINGHAM, Ala. (AP) -- A federal grand jury has indicted a Center Point man for bank fraud in connection with a mortgage loan scheme.

U.S. Attorney Joyce White Vance says 50-year-old Jeffery Dillard Square indicted on two counts on Wednesday.

The indictment says Square was a part of a scheme to defraud Renasant Bank and Ohio Savings Bank of mortgage loan funds with false documents.

The indictment says Square obtained $61,000 from the two banks as part of the scheme.

If convicted, Squares faces a maximum sentence of 30 years in prison and a $1 million fine for each count.

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