BISMARCK, N.D. (AP) — A former bank president, his father and other man have pleaded not guilty to federal charges that accuse them of attempting to defraud banks in Beulah and Glen Ullin.
Thirty-four-year-old Brady Torgerson is charged with bank fraud, misapplication of funds, making false entries in bank records and aggravated identity theft, crimes that allegedly occurred while he was employed by The Union Bank in Glen Ullin and First Security Bank-West in Beulah.
His 60-year-old father, Brent Torgerson, and 32-year-old Kelly Huffman are charged with misapplication of bank funds.
According to prosecutors, Brady Torgerson attempted to defraud both banks by issuing funds to people not entitled to them, failing to register bank transactions, creating fraudulent loan obligations and trying to conceal the activities, the Bismarck Tribune reported.
Brent Torgerson is accused of issuing a cashier’s check for more than $724,000 to his son without obtaining promissory notes and other necessary financial paperwork while he was a loan officer at The Union Bank. Huffman while working at First Security Bank-West allegedly issued a $125,000 check advance to another bank at Brady Torgerson’s request.
All three men have been released pending trial, which is scheduled for Dec. 7.
The men face the possibility of 30-year prison sentences and $1 million in fines if convicted.