A Statesboro man indicted in October on federal bank fraud charges entered a guilty plea Monday, U.S. Attorney Edmund A. Booth Jr. said Wednesday.
Gregory Todd, 31, Country Squire Drive, 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, according to an indictment filed Oct. 9 by the U.S. District Court for Southern District of Georgia, Statesboro Division.
But in an apparent plea bargain, Todd pled guilty to one count of making forged securities and “ agreed to make full restitution to the bank,” Farmers & Merchants Bank of Statesboro, Booth said.
Todd appeared before Chief U.S. District Judge William T. Moore Monday in federal court in Statesboro. A sentencing date has not yet been set, Booth said.
There will be a “ presentencing investigation and report by the probation office” before a sentencing date will be set, he said.
Booth said the maximum sentence possible for the charge is 10 years in prison a $250,000 fine and three years under supervision after release. That does not mean Todd will receive that sentence, however.
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 all occurred in 2006.
Gregory Todd, 31, Country Squire Drive, 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, according to an indictment filed Oct. 9 by the U.S. District Court for Southern District of Georgia, Statesboro Division.
But in an apparent plea bargain, Todd pled guilty to one count of making forged securities and “ agreed to make full restitution to the bank,” Farmers & Merchants Bank of Statesboro, Booth said.
Todd appeared before Chief U.S. District Judge William T. Moore Monday in federal court in Statesboro. A sentencing date has not yet been set, Booth said.
There will be a “ presentencing investigation and report by the probation office” before a sentencing date will be set, he said.
Booth said the maximum sentence possible for the charge is 10 years in prison a $250,000 fine and three years under supervision after release. That does not mean Todd will receive that sentence, however.
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 all occurred in 2006.