U.S. Attorney Robert J. Troester | U.S. Department of Justice
John Padilla, a former senior vice president and commercial loan officer at a federally insured bank in Lawton, Oklahoma, has been sentenced to 16 months in federal prison for bank fraud. The announcement was made by U.S. Attorney Robert J. Troester.
Padilla was charged on May 7, 2024, with executing a fraudulent scheme between February 2013 and December 2019. During his tenure at the bank, he recruited borrowers to apply for loans under false pretenses. Many of these borrowers were friends and associates who were not creditworthy. Padilla misled them into believing that the loan proceeds would be invested in his real estate ventures, promising them a share of the profits.
In reality, Padilla used most of the funds to fuel his gambling habit and repay prior loans involved in the scheme. His actions resulted in a financial loss exceeding $1 million for the bank.
On June 17, 2024, Padilla pleaded guilty to recruiting an associate for a loan intended for personal use.
At today's sentencing hearing, U.S. District Judge Jodi W. Dishman emphasized the severity of Padilla's offense and its long duration when delivering her sentence. She highlighted that Padilla's fraud caused significant financial harm to his former employer. Alongside his prison term, Padilla will undergo three years of supervised release and must pay $1,092,135.50 in restitution.
The case was investigated by the Federal Deposit Insurance Corporation – Office of Inspector General and the Federal Housing Finance Agency – Office of Inspector General. Assistant U.S. Attorney Charles Brown led the prosecution.
For further details on this case, reference is made to public filings.
