ATLANTA (AP) -- ATLANTA -- The former commercial loan officer of a failed Georgia bank has pleaded guilty to bank fraud.
U.S. Attorney Sally Quillian Yates said 45-year-old Clayton A. Coe of McDonough, former officer with First City Bank of Stockbridge, was charged with tricking the bank's board of directors into approving an $800,000 loan from which he personally profited.
Yates said Coe also pleaded guilty to filing a false federal income tax return that omitted nearly a half million dollars in income from his job at the bank.
First City Bank of Stockbridge failed and was seized by the FDIC and state banking authorities in March,2009.
|Get the ingredients you need to cook with Rach all week long.|
|Full length exclusive concerts from hot artists.|
|Take a break!
Classic Pacman, Frogger, Asteroids and more.
Sell almost anything locally.