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Home News Lawton

Lawton banker sentenced for bank fraud

The Chronicle News by The Chronicle News
December 13, 2024
in Lawton
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Lawton banker sentenced for bank fraud
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OKLAHOMA CITY – A Lawton banker was sentenced Friday to serve 16 months in federal prison for bank fraud.

John Padilla, 44, pleaded guilty June 17 and admitted to recruiting an associate to apply for a loan, knowing the proceeds were for his own personal use.

At the sentencing hearing, U.S. District Judge Jodi W. Dishman sentenced Padilla to serve 16 months in federal prison, followed by three years of supervised release. In announcing her sentence, Judge Dishman noted the seriousness of the offense and that it had spanned several years, according to U.S. Attorney Robert J. Troester.

Judge Dishman further explained that the fraud Padilla committed against his former, long-time employer, caused a significant loss to the bank. The Court also ordered Padilla to pay $1,092,135.50 in restitution.

Padilla was charged May 7 with bank fraud.

According to the filing information, between February 2013 and December 2019, Padilla served as senior vice president and commercial loan officer for a federally insured bank located in Lawton. During that time, Padilla executed a scheme in which he recruited borrowers to apply for loans, many of which were not creditworthy and were in fact Padilla’s friends and associates, Troester said.

“Padilla told the borrowers he would use the loan proceeds to invest in his real estate ventures, and that he would pay the borrowers a percentage of the profit,” he said. “In reality, Padilla would use most of the loan proceeds to support his gambling habit, while also using proceeds to make payments toward prior loans issued as part of the scheme.”

In all, Padilla’s actions cost the bank more than $1,000,000.

The case is the result of an investigation by the Federal Deposit Insurance Corporation – Office of Inspector General, and the Federal Housing Finance Agency – Office of Inspector General, Troester said. Assistant U.S. Attorney Charles Brown prosecuted the case.


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