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Swainsboro man sentenced on bank fraud charges
Jason McMillan
Jason McMillan

A Swainsboro man is facing significant penalties after admitting to obtaining hundreds of thousands of dollars in fraudulent loans.

Jason McMillan, a former commercial loan officer at a Chatham County bank, awaits sentencing after pleading guilty in U.S. District Court to Bank Fraud, said David H. Estes, acting U.S. Attorney for the Southern District of Georgia. McMillan’s guilty plea subjects him to a statutory penalty of up to 30 years in prison, up to $1 million in fines, significant restitution and asset forfeiture, and up to three years of supervised release after completion of any prison term.

There is no parole in the federal system.

“Customers of financial institutions rightly depend on the integrity of those institutions, and of the staff they employ,” Estes said. “As part of his plea, Jason McMillan will never again work as a banker – and that will help protect those institutions and their customers.”

As described in court documents and testimony, McMillan, 45, was employed as a commercial loan officer at a Chatham County branch of a bank when, in July 2009, he used the identity of another man without the victim’s knowledge or authorization to obtain a commercial loan for $187,000, “purportedly for obtaining industrial farm equipment.”

During the next four years, McMillan, a longtime Swainsboro resident, made interest payments on the loan and completed renewal applications to obtain additional loan amounts of $160,000, $157,000 and $250,000. The plea agreement attributes a total of approximately $200,271 in fraudulently obtained funds that McMillan converted to his personal use. The bank discovered the fraud during an internal investigation.

In addition to the statutory guidelines for sentencing, as part of the plea agreement, McMillan agrees to forfeit $112,430.32, to pay restitution as ordered by the court, and to consent to an order prohibiting him from future employment as a banker.

“Purposely stealing from others for one’s own personal benefit is a greedy, criminal act that burdens all involved,” said Steven R. Baisel, Special Agent in Charge of the Atlanta Field Office of the U.S. Secret Service. “Thankfully, our daily investigative collaboration with our prosecutorial partners helps identify and bring to justice those who choose a felonious path.”

The case was investigated by the U.S. Secret Service, and prosecuted for the United States by Assistant U.S. Attorney Steven H. Lee and Asset Forfeiture Unit Section Chief Xavier A. Cunningham.

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