Posted on
Thursday, August 21, 2008
Thursday, August 21, 2008
Former Banker Pleads Guilty To Stealing Funds
A former president of Tyler's Bank of America pleaded guilty in federal court on Wednesday to two counts of fraud for swindling a local customer.
Brent Steven Lemons, 52, will likely spend four to five years in jail, according to U.S. District Judge Judith Guthrie. But the actual sentencing will be done at a later date by U.S. District Judge Michael Schneider.
Lemons acknowledged that on Feb. 2, 2007, he withdrew $80,000 from the account of Venn C. Davis Stubbs and transferred it to the "Boyd Corporation" in Louisiana.
On Wednesday, he pleaded guilty to interstate transportation of stolen money and engaging in a transaction with criminally derived property. Each charge carries a maximum prison sentence of 10 years.
Prosecutors say these crimes were part of a larger scheme, which resulted in the theft of more than $408,000 from his victims over two years. In March, a 19-count indictment was issued by a federal grand jury.
Two victims, Tammy and Cindy Mays, of Tyler, have been awarded $1.3 million for their claims against Lemons.
For now, Lemons remains free on bond. In court, his attorney, John Teakill, of Dallas, told Judge Guthrie that his client has serious health problems and is on numerous prescription medications.
A pre-sentencing report will now be prepared.
Assistant U.S. Attorney Jim Noble prosecuted the case.
Assistant U.S. Attorney Jim Noble prosecuted the case.
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