Stilwell Man Pleads Guilty Of Committing Bank Fraud

Tuesday, October 24th 2006, 4:23 pm
By: News On 6

MUSKOGEE, Okla. (AP) _ A former bank branch president pleaded guilty Tuesday in U.S. District Court to three counts of bank fraud for obtaining or trying to obtain at least $550,000 in loans.

Stilwell resident Jimmy Woodrow Eubanks, 31, was indicted by a federal grand jury in July for creating loans in the names of customers without their knowledge and making false representations about personal property he pledged as collateral, an investigation by the FBI found.

Eubanks was branch president of Arvest Bank in Stilwell.

Between 2003-2004, Eubanks obtained nearly $400,000 in loans from two eastern Oklahoma banks, the investigation found.

In 2005, he attempted to obtain at least $155,000 from a third bank.

Each count of bank fraud could carry up to 30 years in prison or a $1 million fine, or both.