Posted 2/25/2013 12:00 am
A former ANB Financial loan officer and the borrower who paid him a $60,000 bribe during a charter-flight trip to Las Vegas in 2007 will now have to do their celebrating in Club Fed.
William B. Hemm, 33, who was a loan officer at the Fayetteville bank that failed in 2008, was sentenced on Feb. 15 to 24 months in prison for the two felonies to which he pleaded guilty last summer: conspiracy to bribe a bank officer and misapplication of bank funds.
Christopher Lee Talley, 41, the borrower who pleaded guilty to bribing a bank officer, was sentenced on the same day to 14 months in federal prison.
U.S. District Judge Jimm Larry Hendren of Fayetteville ordered both men to report to the federal Bureau of Prisons on March 8. Exactly where the two will serve their time has not been determined, but each will spend three years on supervised release after he gets out.
Hemm was a 20-something loan officer back in April 2007, when he solicited a $60,000 cash payment from Talley in order to grease the skids for a $6.2 million loan from ANB. Talley’s company, Memphis Sports Management LLC, was supposed to use the money to develop 8 acres in the Memphis area.
But it wasn’t enough for Talley just to hand over the money.
Instead, Talley used part of the loan proceeds to charter a jet — 75 hours at a cost of $82,500 — to take him and his loan officer buddy to Vegas, where the $60,000 bribe was paid.
In case it wasn’t obvious, Hemm’s plea agreement points out that the money paid to the charter service “was not ‘for business purposes related to the property’ and constituted misapplication of ANB funds.”