Swainsboro ex-banker admits hundreds of thousands in loan fraud

A pile of fifty and one hundred dollar bills.
A pile of fifty and one hundred dollar bills.(unknown)
Published: Aug. 6, 2021 at 11:45 AM EDT
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SAVANNAH, Ga. (WRDW/WAGT) - A Swainsboro man faces significant penalties after he admitted obtaining hundreds of thousands of dollars in fraudulent loans while he worked at a Chatham County bank.

Jason McMillan, 45, awaits sentencing after pleading guilty in U.S. District Court to an Information charging him with bank fraud, according to federal prosecutors.

McMillan’s guilty plea subjects him to a statutory penalty of up to 30 years in prison, up to $1 million in fines, significant restitution and asset forfeiture, and up to three years of supervised release after completion of any prison term.

As described in court documents and testimony, McMillan was employed as a commercial loan officer at a Chatham County branch of a bank when, in July 2009, he used the identity of C.J. without the victim’s knowledge or authorization to obtain a commercial loan for $187,000, “purportedly for obtaining industrial farm equipment.”

During the next four years, McMillan made interest payments on the loan and completed renewal applications to obtain additional loan amounts of $160,000, $157,000, and $250,000. The plea agreement attributes a total of approximately $200,271 in fraudulently obtained funds that McMillan converted to his personal use. The bank discovered the fraud during an internal investigation.

In addition to the statutory guidelines for sentencing, as part of the plea agreement, McMillan agrees to forfeit $112,430.32, to pay restitution as ordered by the court, and to consent to an order prohibiting him from future employment as a banker.

“Purposely stealing from others for one’s own personal benefit is a greedy, criminal act that burdens all involved,” said Steven R. Baisel, special agent in charge of the Atlanta Field Office of the U.S. Secret Service.

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