Feds go after bank accounts of two convicted felons - KCBD NewsChannel 11 Lubbock

Feds go after bank accounts of two convicted felons

LUBBOCK, TX (KCBD) -

Federal prosecutors have petitioned a federal judge in Lubbock for permission to garnish the wages or other assets of two convicted felons. Both are high-profile cases that made big news when they happened.

Court records say Mary Frances Dunn owes $811,736.50 in restitution after having paid $200. Dunn, the former Assistant Vice President of Plains Capital Bank, was convicted in 2011 of Misapplication of Bank Funds. Although court records say she took most of the money while employed at Plains, she took a job at City Bank which then suffered the entire loss. Dunn is still serving a 51-month prison sentence.

Ironically, according to court records, the assets include money that Dunn has in two retirement accounts at City Bank totaling more than $140,000. The feds also seek to confiscate an account she has with Franklin Templeton Investments worth just less than $49,000.00.

Prosecutors are also seeking a garnishment against Robert Clifford Cowan and his wife. Cowan owes more than $4.2 million in restitution after having paid $17,607.42.

Cowan was convicted in 1997 of mail fraud in connection with a Ponzi scheme. He served 60 months in federal prison and was ordered to pay back his victims, many of whom trusted their life savings to him, according to court records.

Prosecutors want to confiscate an account he has with Wells Fargo worth nearly $5,000, and assets with American Credit Card Processing Corp., the value of which is not yet listed in court records.

Prosecutors are also seeking a portion of Cowan's earnings from a company called Light Power Solutions which pays Cowan as a contractor more than $2,800 per week. Cowan now lives in Alvord, Texas.

Copyright 2012 KCBD. All rights reserved.

  • Local News on KCBD.comNewsMore>>

  • North Korea says ready to deploy, mass-produce new missile

    North Korea says ready to deploy, mass-produce new missile

    Tuesday, May 23 2017 1:17 AM EDT2017-05-23 05:17:37 GMT
    Tuesday, May 23 2017 1:17 AM EDT2017-05-23 05:17:37 GMT

    In what Pyongyang says is its answer to President Donald Trump's policies, North Korea claims it's ready to deploy and start mass producing a new midrange missile.

    In what Pyongyang says is its answer to President Donald Trump's policies, North Korea claims it's ready to deploy and start mass producing a new midrange missile.

  • Flynn rejects Trump-Russia probe subpoena; Dems say he lied

    Flynn rejects Trump-Russia probe subpoena; Dems say he lied

    Tuesday, May 23 2017 1:16 AM EDT2017-05-23 05:16:29 GMT
    Tuesday, May 23 2017 1:16 AM EDT2017-05-23 05:16:29 GMT

    Members of key congressional committees are pledging a full public airing as to why former FBI director James Comey was ousted amid an intensifying investigation into Russia's interference with the U.S. election.

    Members of key congressional committees are pledging a full public airing as to why former FBI director James Comey was ousted amid an intensifying investigation into Russia's interference with the U.S. election.

  • Trump's $4.1T budget relies on deep domestic cuts

    Trump's $4.1T budget relies on deep domestic cuts

    Tuesday, May 23 2017 1:16 AM EDT2017-05-23 05:16:04 GMT
    Tuesday, May 23 2017 1:16 AM EDT2017-05-23 05:16:04 GMT

    Trump's blueprint for the 2018 budget year includes a wave of cuts to benefit programs such as Medicaid, federal employee pensions, welfare benefits and farm subsidies.

    Trump's blueprint for the 2018 budget year includes a wave of cuts to benefit programs such as Medicaid, federal employee pensions, welfare benefits and farm subsidies.

Powered by Frankly