EYEWITNESS LOCAL NEWSV.P. First State Bank Indicted On Bank Fraud Charges
from Eyewitness News Online
Reported by: Dave Benton
Videographer: Kenney Barnette
Web Producer: Dave Benton
Reported: Oct. 7, 2013 6:28 PM EDT
Updated: Oct. 8, 2013 10:09 AM EDT
Barboursville , Cabell County , West Virginia
The Vice President of First State Bank in Barboursville is facing some serious federal charges. 33 year old Jackie Cantley was indicted on bank fraud charges.
The news came as a shock to Dale Kyle, who says he watched Cantley grow up. "Really broke my heart he's a great kid. He stayed in my home, and was never in trouble, just an all around good kid. He's one of my son's best friends."
Cantley started at First State Bank in Barboursville as an intern several years ago and worked his way up to Vice President. The federal indictment claims Cantley approved loans to borrowers who did not qualify for loans. He allegedly forged signatures on documents for his cousin who was in prison. He allegedly failed to obtain, record, and compile loan documents accurately. He allegedly transferred funds from one borrower's account to another borrower's account without authorization.
President and C.E.O. of First State Bank Sam Vallandingham says, "It's important to point out bank management identified it, investigated it and ultimately we uncovered the situation and dealt with it."
Vallandingham say no customer funds were involved. Cantley will be arraigned in Federal Court Wednesday at 1:30.
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