 |
Department of Justice United States Attorney David L. Huber Contact: Sandy Focken |
Return to the Press Release Index
August 18, 2008
FORMER LOUISVILLE RESIDENT, GEORGE DUMSTORF, PLEADS GUILTY TO DEFRAUDING LOCAL BANK OUT OF $850,000
LOUISVILLE, KY - George W. Dumstorf, Jr., age 69, of Spring Hill, Florida, plead guilty to bank fraud, David L. Huber, United States Attorney for the Western District of Kentucky, announced today.
The Indictment to which he pleaded guilty charged that between September 2001 and January 2006, Dumstorf defrauded Stockyards Bank and Trust by providing counterfeit certificates of deposit as collateral for nearly $850,000 in loans. In December of 2005, Dumstorf applied for and received an $850,000 loan that consolidated a number of previous loans. He provided as collateral for the December loan two counterfeit certificates of deposit purportedly issued by the United States Treasury, Department of Defense. The first was in the amount of $688,980 and the second in the amount of $299,985. This loan consolidated a number of previous loans that were also secured by counterfeit certificates of deposit. These counterfeit certificates of deposit were purportedly issued by the Kennedy Space Center Federal Credit Union. The loans secured by the Kennedy Space Center Federal Credit Union certificates of deposit dated back to September 2001.
The maximum potential penalties are 30 years imprisonment, a $1,000,000 fine, an supervised release for a period of up to 5 years.
The case is being prosecuted by Assistant United States Attorney Bryan Calhoun, and it was investigated by the Federal Bureau of Investigation.
Dumstorf is scheduled for sentencing on November 10, 2008, at 11:00 a.m., in Louisville, Kentucky.
#####
Return to the Press Release Index