Former Texas Bank President Going to Prison for Wire Fraud

A former D’Hanis, Texas, bank president has been sentenced to two years in federal prison and ordered to pay $817,892 in restitution after pleading guilty to one count of wire fraud and embezzlement.

Laurie Mayfield (aka “Laurie H. Scott”), 55, of Fredericksburg, Texas, is the former president of D’Hanis State Bank (DSB). According to court documents, Mayfield prepared and filed false Consolidated Reports of Condition and Income (“Call Reports”) with federal and state bank regulators from January 2012 to September 2014 that overstated the assets of the bank by approximately $830,000.

Prosecutors said that Mayfield inflated the bank’s assets in order to make it a more attractive acquisition target. Mayfield emailed the falsified Call Reports to a prospective buyer of the bank in September 2014, which the buyer then used in making the decision to purchase DSB. San Antonio-based Vantage Bancorp acquired the bank’s parent company, Medina Bankshares, in 2014. At the time of the purchase, DSB had approximately $46 million in assets.

In addition, Mayfield admitted to embezzling more than $68,000 from the bank. She said that she used some of the embezzled funds to pay for her daughter’s college sorority fees.

Mayfield was also placed on supervised release for three years after completion of her prison term. The case was brought via an investigation by the FBI, U.S. Secret Service, Federal Deposit Insurance Corp. (FDIC) and the Consumer Financial Protection Bureau (CFPB).

Whether you are facing a serious federal white-collar prosecution, a state murder charge, or misdemeanor charges, The Cogdell Law Firm has the experience, knowledge and reputation you want for your legal team. When results matter most, contact Dan Cogdell at (713) 426-2244 or dan@cogdell-law.com.

Categories: