November 27, 08

NEWS / Texas Businessman Sentenced to Prison for False Statements to Federally Insured Bank

WASHINGTON – A Sherman, Texas, businessman was sentenced today to three years in prison for each of two counts of submitting a false statement to a federally insured financial institution, Acting Assistant Attorney General of the Criminal Division Matthew Friedrich announced. The prison terms will run concurrently.

James W. Sandlin, 57, was sentenced today by U.S. District Judge Richard A. Schell in the Eastern District of Texas. In addition, Judge Schell ordered Sandlin to serve three years of supervised release following his prison term and imposed fines totaling $20,000. Sandlin was indicted on Nov. 15, 2007, and convicted by a federal jury in June 2008.

According to evidence at trial, on two occasions in 2006 Sandlin failed to disclose a $996,000 debt obligation in personal financial statements submitted to Independent Bank, located in Sherman. Evidence at trial revealed that Sandlin had borrowed the funds from a retired Sherman couple.

Sandlin is also under indictment along with Congressman Richard G. Renzi on conspiracy, honest services mail and wire fraud, and extortion counts in the District of Arizona. The trial in that case is scheduled to begin on March 24, 2009, in Tucson, Ariz.

These cases are being prosecuted by Senior Trial Attorney Andrew Levchuk and Trial Attorney John P. Pearson of the Criminal Division’s Public Integrity Section, headed by Section Chief William M. Welch II. These cases are being investigated by the FBI and the Internal Revenue Service, Criminal Investigation Division.

http://www.usdoj.gov/opa/pr/2008/November/08-crm-1052.html

Tags: criminal investigation,