A bank worker in Montana illegally secured $50,000 by submitting and approving a fraudulent loan application to himself, according to the US Department of Justice.
Jordan Andrew Hennessy, 38, acted as the commercial relationship manager at First Interstate Bank when he orchestrated the scheme. His role allowed him to handle both sides of the loan negotiation, effectively negotiating and approving his own $50,000 line of credit.
After the loan was funded on March 11, 2022, Hennessy transferred funds from a joint account he created under his father’s name into his personal checking account. He then used the money for multiple transactions with an online investment firm but eventually defaulted on the credit line.
Hennessy has entered a guilty plea for one count of bank fraud. He faces penalties of up to 30 years in prison, a $1 million fine, five years of supervised release, and a $100 special assessment.
This information is provided for awareness and does not constitute financial advice.
