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.