Home » NEWS » Banking & Finance » Ex-bank CEO charged with fraud, money laundering

Ex-bank CEO charged with fraud, money laundering

BUDE — The former chief executive officer or a south Mississippi bank has been charged with fraud and money laundering.

A criminal information filed in federal court says Larry Barnette Hill was CEO of Peoples Bank of the South in Bude. A criminal information often means a defendant will plead guilty.

The document says Hill took money from a payroll clearing account and deposited into a “shell” account he created and into the accounts of his family members.

It also says he used some of the money to pay off a loan he had taken at another bank.

The court document says the scheme happened from 2004 to July of 2012. It doesn’t say how much money was involved.

Court records didn’t list an attorney.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*