Former Houston Banker Headed To Prison
HOUSTON (AP) — A ex-banker in Houston faces up to five years in prison for helping a man with only $100 in his account secure a $2 million loan that later went into default.
Jason F. Meadors pleaded guilty Wednesday to conspiracy to commit bank fraud.
Meadors in 2006 worked for Bank of Texas and helped a man seeking $100,000 increase the request to get $2 million.
Prosecutors say the man, who faces charges in the case, falsely claimed to have $9 million in assets, when his true balance was $100. The indictment says he defaulted on the $2 million loan.
Meadors later worked at Third Coast Bank in Houston. Prosecutors say Meadors didn't tell his bosses about knowing the applicant and prior fraud allegations when the man sought a $1.2 million loan.