ERIE, PA—A former resident of Erie, Pennsylvania, pleaded guilty in federal court to charges of bank fraud and tax evasion, United States Attorney David J. Hickton announced today.

Brian M. Quimby, 48, pleaded guilty to two counts before Senior United States District Judge Maurice B. Cohill, Jr.

In connection with the guilty plea, the court was advised that while Quimby was employed as CFO of Thayer Power and Communications, he defrauded Key Bank. In addition, Quimby failed to file his income tax return for calendar year 2007.

Judge Cohill scheduled sentencing for May 4, 2015 at 11:00 a.m. The law provides for a total sentence of 35 years in prison, a fine of $1,250,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

Pending sentencing, the court continued Quimby on bond.

Assistant United States Attorney Christian A. Trabold is prosecuting this case on behalf of the government.

The Internal Revenue Service, Criminal Investigation and the Federal Bureau of Investigation conducted the investigation that led to the prosecution of Quimby.