FORT MYERS, Fla. (AP) - The former chief executive office of a failed southwest Florida bank has pleaded guilty to federal fraud charges involving falsification of records and lying to government officials.
Former Orion Bank chief Jerry J. Williams pleaded guilty Friday in Fort Myers federal court to fraud conspiracy and false statement charges. He faces up to 15 years in prison.
The case was investigated by the inspector general for the Troubled Asset Relief Program used by the government to bail out companies during the financial crisis. Orion's parent company had unsuccessfully sought $64 million from the TARP program.
Investigators say Williams conspired with other bank executives in 2009 to make Orion appear in better financial condition than it was. Florida banking regulators closed Orion bank in November 2009.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)