Former LaCoste National Bank President Sentenced to Federal Prison
|U.S. Attorney's Office April 28, 2011|
United States Attorney John E. Murphy announced that in San Antonio, former LaCoste National Bank president Jodi P. Gwyn was sentenced to five years in federal prison followed by five years of supervised release and was ordered to pay restitution of more than $8.3 million for making false entries in bank books and records.
Last year, Gwyn admitted that in September 2008, he intentionally made a false entry in the LaCoste National Bank’s general ledger in order to deceive bank examiners. Gwyn’s false entry noted a $2.5 million loan to particular individuals when, in fact, the loan proceeds had already been advanced to a different bank customer.
“Due to the defendant’s fraudulent actions, the LaCoste National Bank, which had served Medina County customers for decades, collapsed last year and was forced into receivership,” stated United States Attorney John E. Murphy.
This case was investigated by special agents with the Federal Deposit Insurance Corporation Office of Inspector General and the Federal Bureau of Investigation. Assistant United States Attorney Thomas Moore is prosecuting this case on behalf of the government.