A federal grand jury indicted Myrkel Latroy Staley, 43, of Shelburne, Vermont, on four counts of bank fraud, according to a July 2 indictment announced by the Office of the United States Attorney for the District of Vermont on July 16. Staley pleaded not guilty during an arraignment before United States Magistrate Judge Kevin J. Doyle on July 14. Judge Doyle ordered Staley released under certain conditions.
According to the indictment, between June 2021 and March 2023, Staley allegedly submitted fraudulent documents to TD Bank in connection with both a mortgage loan and a home equity loan for a property in Shelburne. The indictment states that Staley used fraudulent tax returns as part of his applications and obtained $283,000 from another individual to fund the down payment for the property. Additional fraudulent documents were reportedly submitted to legitimize these funds.
The United States Attorney’s Office emphasized that “an indictment contains allegations only and that Staley is presumed innocent until and unless proven guilty.” If convicted, Staley faces up to 30 years in prison and a $1 million fine or both; sentencing would be determined by the District Court based on advisory guidelines and statutory factors.
First Assistant United States Attorney Jonathan A. Ophardt said he commended “the investigatory efforts of the FBI, the United States Secret Service and the IRS-Criminal Division.” The case is being prosecuted by Assistant United States Attorney Wendy L. Fuller. Mark Kaplan represents Staley.
The U.S. Attorney for the District of Vermont serves as chief federal law enforcement officer for Vermont with offices in Burlington and Rutland; it enforces federal criminal laws, handles civil litigation on behalf of the United States, supports community safety initiatives through partnerships with law enforcement agencies and community partners across Vermont, fosters public safety efforts including crime reduction strategies, protects victims’ rights throughout proceedings—and falls within federal law enforcement administration responsibilities—according to its official website.