Federal Deposit Insurance Corporation
Office of Inspector General

Former Center Point Bank Vice President Pleads Guilty to Aiding and Abetting the Obstruction of an FDIC Examination

United States Department of Justice
United States Attorney’s Office, Northern District of Iowa
PRESS RELEASE
Press Release

FOR IMMEDIATE RELEASE

Tuesday, August 28, 2018

Former Center Point Bank Vice President Pleads Guilty to Aiding and Abetting the Obstruction of an FDIC Examination

A former vice president at Center Point Bank & Trust who aided and abetted the obstruction of an FDIC examination pled guilty on August 27, 2018.

Martin Smith, age 38, from Center Point, Iowa, was convicted of Aiding and Abetting the Obstruction of the Examination of a Financial Institution.  At the plea hearing, Smith admitted that he backdated a refinancing loan to obstruct an FDIC investigation. 

Sentencing before United States District Court Judge Leonard T. Strand will be set after a presentence report is prepared.  Smith remains free on bond previously set pending sentencing.  Smith faces a possible maximum sentence of 5 years’ imprisonment, a $250,000 fine, and 3 years of supervised release following any imprisonment.

The case is being prosecuted by Assistant United States Attorney Jacob A. Schunk and was investigated by the FDIC Office of Inspector General and the United States Secret Service. 

Court file information at https://ecf.iand.uscourts.gov/cgi-bin/login.pl

The case file number is 1:18-cr-00076-LTS.

The content has been reproduced from its original source.

 

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