SAVANNAH, Ga. (WSAV) – Jason McMillan, 46, of Savannah, received a 10 month prison sentence after pleading guilty to Bank Fraud.
In August, McMillian, a former commercial loan officer at a Chatham County bank, admitted in federal court to obtaining hundreds of thousands of dollars in fraudulent loans.
According to investigators, in July 2009, McMillan used someone else’s identity without their knowledge or authorization to obtain a commercial loan for $187,000.
McMillan, in the following four years, made interest payments on the loan and completed renewal applications to obtain additional loan amounts of $160,000, $157,000, and $250,000.
According to the U.S. Department of Justice (DOJ), a plea agreement attributed $200,271 in fraudulently obtained funds that McMillan converted for his personal use. The bank discovered the fraud during an internal investigation.
According to the plea agreement, McMillan will also pay $112,430.32 in restitution and consent to an order prohibiting him from future employment as a banker.
The DOJ says McMillian was a resident of Swainsboro when he was charged but now lives in Savannah.