Ex-Montana bank executive pleads not guilty to bank fraud
BILLINGS, Mont. (AP) — A former Montana bank executive has denied charges that he approved two bank loans to a coal executive without disclosing separate private loans that he had either made or facilitated on behalf of an investor group.
The Billings Gazette reports Stephen Phillip Casher pleaded not guilty in federal court Thursday to charges of money laundering, blackmail and bank fraud.
Prosecutors say the former Rocky Mountain Bank executive approved loans for Larry Price Jr., who was convicted of wire fraud, money laundering and lying to federal investigators last year.
The charges allege that Casher approved the loans knowing his investor group had made high-interest loans to Price.
Prosecutors also allege that Casher received interest in real estate deals by threatening to inform authorities about wire fraud activity.
Information from: The Billings Gazette, http://www.billingsgazette.com