They originally faced over 700 years in prison combined for bank fraud. But now, three Lubbock businessmen will serve no longer than a year and a half in prison. NewsChannel 11's Jennifer Vogel was in the court-room when the sentences for were read for Tom Darden and Frank and Rick Thompson.
When the case was made public in 2004, we first reported that the bank was looking at a loss of about $2.5 million, and the four men involved could face a combined maximum sentence of over 700 years in prison if convicted on all counts and over $20-million in fines. But on Monday, the actual sentence was a combined year and a half in prison with $30,000 in fines.
"Everything came out pretty good, it could've been a lot worse. Anyhow, I'm glad this is all done and everything is behind us." Brooks Broussard's step father is Rick Thompson, one of the four men found guilty of defrauding First State Bank and State National Bank of approximately $2.5 million back in 1999. But Monday, a federal judge ruled the bank didn't lose anything.
Brooks said, "The judge ruled a zero loss. They settled for $750,000. The bank sold everything to somebody else." And the men accused of defrauding the bank with false records concerning loans and stocks were handed their sentences.
Former bank president Tom Darden faced seven years in jail for his role but only received one. Darden's attorney was pleased. "When the recommendation when we went in was 87 months, we come out with a 12 months, we're going to go have a glass of wine." Darden must also pay a $17,700 fine.
"My client would rather go to jail and let his dad have probation, but it's not the way it turned out." Floyd Holder represented Rick Thompson. He and his father Frank Thompson faced up to five years in prison each. But, Rick Thompson got five years probation and had to spend one day in jail. He also has to pay a $6,600 fine. Frank Thompson told the court he was "Sorry for all the problems this caused." He was sentenced to six months in prison, which he'll serve at a medical center in Fort Worth. He also, has to pay $6,600.
The fourth man originally found guilty of fraud was former state board of education member Monte Hasie. Last month, a federal judge acquitted Hasie of all charges.
Rick Thompson's son was the only family member that wanted to make a comment. Darden did say in court that he always tried to live his life as a good person, and still does. Judge Sam Cummings said he gave Darden one year in jail because he was the "hub of the wheel" in the scam. Darden and Frank Thompson will have until May 15th at 2 p.m. to voluntarily turn themselves in to serve their sentences.
|Courts & Crime|