Former Ga bank executive pleads guilty in fraud - New York News

Former Ga bank executive pleads guilty in fraud

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SAVANNAH, Ga. (AP) - A former executive pleaded guilty in a fraud scheme that contributed to the failure of a Georgia bank three years ago.

Authorities say 63-year-old Jay Patrick Gardner entered the plea in federal court in Savannah on Friday.

Gardner was a vice president of the First National Bank of Savannah, which regulators shut down in June 2010.

The Savannah Morning News reports that Gardner admitted his involvement in a $74,000 loan which federal prosecutors say was part of a scheme to cover financial problems for a real estate developer.

Gardner is one of seven former First National officers named in a 35-count indictment. He has agreed to cooperate with prosecutors.

The six remaining defendants are set for trial Dec. 4. Each has pleaded not guilty.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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