Former bank vice president accused of using a family member's po - Beckley, Bluefield & Lewisburg News, Weather, Sports

Former bank vice president accused of using a family member's power of attorney to borrow money

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • One person injured after ATV accident in Fayette County

    One person injured after ATV accident in Fayette County

    Saturday, August 30 2014 4:37 AM EDT2014-08-30 08:37:47 GMT
    Emergency crews were called to the scene of a ATV accident, just before 10 pm Friday.According to Fayette County 911 the ATV was struck by a vehicle along the 1900 block of Rt 60 Anstead area of Fayette County.One person was transported by helicopter, to a local hospital for treatment, The extent of those injuries or what caused the accident is not yet known at this time.The Fayette County Sheriff Department is investigating.
    Emergency crews were called to the scene of a ATV accident, just before 10 pm Friday.According to Fayette County 911 the ATV was struck by a vehicle along the 1900 block of Rt 60 Anstead area of Fayette County.One person was transported by helicopter, to a local hospital for treatment, The extent of those injuries or what caused the accident is not yet known at this time.The Fayette County Sheriff Department is investigating.
  • Intruder Kicks in Door at Apartment in Beckley

    Intruder Kicks in Door at Apartment in Beckley

    Friday, August 29 2014 11:27 PM EDT2014-08-30 03:27:05 GMT
    Beckley Police are searching for two suspects after a burglary at the Lewis Ritchie Apartments in Beckley around 10:00 Friday night (8/29). 
    Beckley Police are searching for two suspects after a burglary at the Lewis Ritchie Apartments in Beckley around 10:00 Friday night (8/29). 
  • 21st annual Beckley's Kids Classic Festival kicks off Saturday

    21st annual Beckley's Kids Classic Festival kicks off Saturday

    Friday, August 29 2014 6:22 PM EDT2014-08-29 22:22:20 GMT
    The 21st annual Beckley's Kids Classic Festival kicks off Saturday with the Autumn Fest at Lake Stephens.
    The 21st annual Beckley's Kids Classic Festival kicks off Saturday with the Autumn Fest at Lake Stephens.

A former bank vice president allegedly used a family member's power of attorney to borrow nearly a half-million dollars in his name, U.S. Attorney William Ihlenfeld II said.

John P. Aman, 60, of Clarksburg, was indicted by a federal grand jury in Clarksburg on 11 counts of bank fraud. Aman had at one time worked at Huntington and West Union banks.

Investigators allege Aman abused his power of attorney and used his position at the two banks to bypass established policies and regulations designed to prevent questionable loans from being approved and misrepresented the purpose of the loans. He also allegedly pledged stock that same family member owned as collateral on a loan he obtained from Freedom Bank. When the required payments weren't made the stock was sold to satisfy the debt to Freedom Bank, they said.

The family member in whose name the loans were taken out died in 2011 at the age of 89, Ihlenfeld added.

"A power of attorney can be a valuable tool but it can also be abused if entrusted to the wrong person," Ihlenfeld said. "Unfortunately, older West Virginians are oftentimes on the wrong end of schemes involving the fraudulent use of these very powerful documents."

Aman could face up to 30 years in prison on each of the 11 counts plus a fine of up to $1 million. Under the Federal Sentencing Guidelines, the actual sentence imposed will be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant, he said.

Ihlenfeld's office also is seeking a $372,164 judgment against Aman.

The case was investigated by the Federal Bureau of Investigation and will be prosecuted by Assistant U.S. Attorney Andrew R. Cogar.