FBI: “Former Mortgage Broker Indicted for Defrauding First Coweta Bank”

The Federal Bureau of Investigation (FBI) on July 18, 2013 released the following:

“GAINESVILLE, GA— Amy B. Williams, 48, of Buford, Georgia, has been indicted by a federal grand jury on charges arising out of a scheme to defraud First Coweta Bank.

“Bank fraud is a critical problem throughout the United States, but it has hit Georgia especially hard,” said United States Attorney Sally Quillian Yates. “Georgia leads the nation in bank failures since 2008, with 78 banks failing—including First Coweta Bank, the bank this defendant is charged with defrauding.”

According to United States Attorney Yates, the indictment, and other information presented in court: Williams was the sole owner of United International Mortgage (UIM) Corporation in Buford, Georgia, and was in the business of arranging construction loans for residential builders.

In April 2007, UIM closed three construction loans for one of its customers, Mainstreet Builders Inc. The loans were intended to finance the cost of constructing three new houses in Suwanee, Georgia. The loans, which totaled more than $1.7 million, were funded by First Coweta Bank.

Williams directed an unindicted co-conspirator to forge signatures on loan documents and caused those documents to be faxed to First Coweta Bank. The bank then wire transferred the loan proceeds to an account controlled by Williams. Williams was required to hold the money in trust for the builder and to disburse the money to the builder on a draw basis, as work on the three houses progressed. Instead, she used more than $1.1 million of this money to pay off her personal debt at another bank and wire transferred $60,000 into her personal checking account. After converting First Coweta Bank’s money to her own use, Williams attempted to cover up her crime by e-mailing false documents and misleading photos to the bank.

Mark F. Giuliano, Special Agent in Charge, FBI Atlanta Field Office, stated, “The actions of Ms. Williams, as alleged in the indictment, directly led to the failure of the First Coweta Bank and, as such, clearly demonstrates the serious nature and impact of those actions. The FBI will continue to coordinate its bank fraud investigations with its various law enforcement partners in an effort to effectively identify, investigate, and present for prosecution those individuals who do so much harm to the banking industry.”

Jason T. Moran, Special Agent in Charge, Federal Deposit Insurance Corporation-Office of Inspector General Southeast Region, said, “The Federal Deposit Insurance Corporation is committed to its partnerships with others in the law enforcement community as we address mortgage fraud and bank fraud cases throughout the country. The American people need to be assured that their government is working to ensure integrity in the financial services and housing industries and that those involved in criminal activities that undermine that integrity will be held accountable.”

Williams was arraigned today before United States Magistrate Judge J. Clay Fuller in Gainesville, Georgia.

The indictment charges one count of conspiracy and six counts of bank fraud. Each count carries a maximum sentence of 30 years in prison and a fine of up to $1,000,000. In determining the actual sentence, the court will consider the United States Sentencing Guidelines, which are not binding but provide appropriate sentencing ranges for most offenders.

Members of the public are reminded that the indictment contains only allegations. A defendant is presumed innocent of the charges, and it will be the government’s burden to prove a defendant’s guilt beyond a reasonable doubt at trial.

This case is being investigated by special agents of the FBI and the FDIC Office of Inspector General.

Assistant United States Attorney Russell Phillips is prosecuting the case.”

Federal Bank Fraud Crimes – 18 U.S.C. § 1344

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Douglas McNabb – McNabb Associates, P.C.’s
Federal Criminal Defense Attorneys Videos:

Federal Crimes – Be Careful

Federal Crimes – Be Proactive

Federal Crimes – Federal Indictment

Federal Crimes – Detention Hearing

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Douglas McNabb and other members of the U.S. law firm practice and write and/or report extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition Defense, OFAC SDN Sanctions Removal, International Criminal Court Defense, and US Seizure of Non-Resident, Foreign-Owned Assets. Because we have experience dealing with INTERPOL, our firm understands the inter-relationship that INTERPOL’s “Red Notice” brings to this equation.

The author of this blog is Douglas C. McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.

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