Tempo Bank Insider Admits to Decade-Long Fraud Scheme

A bank insider and his co-conspirator have admitted to orchestrating a nearly decade-long fraud scheme that involved falsifying loan applications to illicitly obtain funds. The U.S. Attorney’s Office for the Southern District of Illinois revealed that former Tempo Bank senior loan officer Francis Eversman and construction company owner Gregg Crawford pleaded guilty to conspiracy to commit bank fraud. The scheme, which ran from 2011 to 2020, involved Crawford recruiting straw purchasers to act as loan applicants for properties that were often significantly overvalued. Eversman, as a bank insider, facilitated the approval process of these fraudulent loans.

Crawford used the proceeds from these loans for purposes other than the intended property purchases. He also provided fake lease agreements to falsely demonstrate rental income from the properties in question. When the Office of the Comptroller of the Currency became suspicious during an audit, Crawford instructed a straw purchaser to provide fraudulent information to the regulator. This action further highlights the extent to which the conspirators were willing to go to cover their tracks and continue their fraudulent activities.

FBI Springfield Assistant Special Agent in Charge Karen Marinos emphasized the breach of trust that occurred in this scheme. She stated that every citizen deserves to trust the people behind the counter at their bank, underscoring the importance of integrity and honesty in the financial sector. The actions of Eversman and Crawford violated this trust, using their positions to increase their wealth at the expense of the bank and its customers.

Eversman and Crawford are scheduled to be sentenced on October 14th. They face up to 30 years in prison, five years of supervised release, and fines of up to $1 million. This case serves as a stark reminder of the consequences of financial fraud and the importance of maintaining robust internal controls and oversight mechanisms within the banking industry. The successful prosecution of this case sends a clear message that such criminal activities will be met with severe legal consequences, reinforcing the need for vigilance and transparency in the financial sector.