Former Davis bank president pleads guilty to fraud

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DAVIS, OK - A former bank president has pleaded guilty and two other men now face federal charges related to bank fraud at First National Bank of Davis.

W.A. Moore Junior--the former president -- pleaded guilty this week to one count of bank fraud, while Victor Garrett and Roy Wesberry were indicted by a federal grand jury with conspiracy to commit bank fraud.

The indictment states that from 2009 to 2011, Moore approved large under-collateralized loans in the name of "unqualified straw borrowers" in order to provide money to Garrett and Wesberry.

These loans were made without the knowledge of the bank's board of directors.

The U.S. Attorney's Office for the Eastern District of Oklahoma said the judge accepted Moore's guilty plea and sentencing will begin after a pre-sentence investigation report is completed.