An ex-president of a South Texas bank faces up to 30 years in prison for lying about how much the financial institution was worth before it was sold.
Laurie Mayfield, also known as Laurie H. Scott, pleaded guilty Tuesday to wire fraud. She formerly led D'Hanis State Bank.
Prosecutors in San Antonio say Mayfield filed fraudulent reports to regulators and overestimated the bank's assets by about $830,000. The 54-year-old Fredericksburg woman from 2012 through September 2014 submitted documents to federal and state bank regulators.
Authorities say Mayfield also emailed the false reports to a prospective buyer of DSB. Vantage Bank Texas proceeded with the purchase last fall.
Mayfield remains free on bond pending sentencing later this year.
Copyright AP - Associated Press
