N.D. Bank Officer Accused Of Obtaining Bogus Loans

The lawyer for a North Dakota bank loan officer accused in a scheme to help companies obtain more than $3.7 million in bogus loans says the allegations against his client are false.

 

 

 

 

FARGO, N.D. (AP) - The lawyer for a North Dakota bank loan officer accused in a scheme to help companies obtain more than $3.7 million in bogus loans says the allegations against his client are false.

Howard Palmer, of Minot, is charged in federal court with 22 counts, including bank fraud and false statements. He has pleaded not guilty.

Authorities say the 57-year-old Palmer lied to a committee about various loan applications. That included a $2.5 million loan for a Florida company.

The indictment says the total amount obtained in the scheme was $3,720,150, but does not specifically say what happened to the money.

Defense attorney Ryan Sandberg says Palmer never benefited "personally or financially" as a result of the loans.

Palmer faces a maximum penalty of 30 years in prison.

 

AP

   

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