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Farmerville Banker and Customer Sentenced for Structuring Transactions to Evade Reporting Requirements

U.S. Attorney’s Office January 07, 2010
  • Western District of Louisiana (318) 676-3641

SHREVEPORT, LA—A former bank vice-president and bank customer were sentenced today for structuring $120,000 in bank transactions at First United Bank of Farmerville in 2004 to evade federal reporting requirements, United States Attorney Donald W. Washington announced. William H. Maxwell and Franklin E. Hutson, both of Farmerville, La., were sentenced to one year probation and a $2,500.00 fine by U. S. District Judge S. Maurice Hicks, Jr., in Shreveport.

Maxwell, 70, former vice-president of First United Bank of Farmerville, and Hutson, 72, a long-time customer, were indicted along with Zeke E. Tettleton, 77, former president of the bank, for evading federal reporting requirements. Maxwell, Tettleton and Hutson structured, attempted to structure, and assisted in structuring a deposit of $120,000 at First United Bank, by breaking it into 12 separate deposits of $10,000 in April and May of 2004.

First United Bank of Farmerville was acquired by Community Trust Bank of Choudrant in December 2005. According to court testimony, in June 2006 CTB officials became aware of the intentional structuring of deposits when the bank was operated by FUB.

Sentencing for Zeke Tettleton is scheduled for February 19, 2010, at 11:30 a.m. Structuring carries a maximum penalty of five years in prison and/or a $250,000.

The case was investigated by the Federal Bureau of Investigation, and is being prosecuted by Assistant United States Attorney C. Mignonne Griffing.

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