A man indicted in October on federal bank fraud charges was sentenced last week to probation, community service and ordered to pay restitution.
Gregory Todd, 32, formerly of Country Squire Drive, Statesboro, pleaded guilty to one count — possession of counterfeit securities, which means creating an unauthorized corporate check, said Assistant U.S. Attorney Frederick W. Kramer III, of the U.S. District Court for Southern District of Georgia.
According to an indictment filed Oct. 9 by the U.S. District Court for Southern District of Georgia, Todd was indicted on 12 counts of bank fraud — two counts of making false entries in bank records, five counts of making false statements to influence bank loans, and five counts of making, passing or possessing forged securities.
But as part of a plea bargain, Todd pleaded guilty to the one charge, and was sentenced to five years probation, 150 hours of community service, and ordered to pay $41,000 restitution to Farmers and Merchants Bank, where he was employed, Kramer said.
According to the indictment, Todd forged bank customer signatures in issuing loans and extending existing loans, forged promissory notes and endorsed and cashed checks made out to the bank customers.
The incidents occurred in 2006.
Kramer said Tuesday Todd no longer resides in Statesboro and community service assignments will likely take place in his current city of residence, not in Statesboro.