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Federal Court: Man Sentenced For Lying On Bank Loan
July 28, 2012
An Escambia County, Ala., man was sentenced this week in federal court after admitting that he made a false statement on a bank loan application.
Brewton resident Jack Witherspoon Hines pleaded guilty in April to charges that he made a false statement pertaining to a bank loan in violation of federal law.
Before United States District Court Judge Kristi Dubose, Hines was sentenced to three years probation with no fine. A hearing will be held in January to determine how much restitution he owes the Bank of Brewton. He was also ordered to notify the county if his ability to pay restitution changes.
As part of his plea, Hines admitted that he pledged shares of stock as collateral for a loan from the Bank of Brewton when he had already pledged the same stock for a loan from another bank, which maintained the original stock certificate. In so doing, Hines falsely represented that the stock had been pledged as collateral only for the Bank of Brewton loan, according to United States Attorney Kenyen Brown.
Hines faced up to five years imprisonment, plus a fine of $250,000. The case was investigated by the Federal Deposit Insurance Corporation (FDIC).
Comments
5 Responses to “Federal Court: Man Sentenced For Lying On Bank Loan”
“crooked alabama” I dont believe that somebody got sentenced to 25 years for selling less than ounce of weed. Maybe if he had previous arrest for selling drugs or something, but then thats a totally different arguement. And “mr wonder” they are indeed 2 different things. You say “laws are laws” but if thats so then why is there misdemeanors and felonies? Why are 1st degree felonies, 2nd degree felonies, and 3rd degree felonies? So to you EA Alumni Cheerleader I say kudos for obviously not being a dopehead and actually understanding the situation.
ea alumni cheerleader: lying and drugs is not two different things, breaking the law is breaking the law, its just backwards how pedophiles and obviously frauds and get rich lieing and scheming gets probation…while drug charges carry life sentences
making a false statement pertaining to a bank loan, false representations…even worse if you ask me, right up there next to fraud..
UHHHHHHHHHHHHHH….lying and drugs……2 different things altogether
And yet the Jim Crow American Justice System prevails!!!!!! probation…WOW…how nice.
A slap on the hand. I know guys who were not caught in the act, but were convicted of selling as little as an ounce of marijuana and got 25 years imprisonment. Just saying….