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Former First State Bank in Barboursville executive charged with fraud, misapplication of funds
Reported by: Associated Press
Tuesday, October 8, 2013 8:44 AM EDT
A former vice president of First State Bank's branch in Barboursville is facing federal bank fraud charges.
A federal indictment says Cantley approved loans to borrowers who didn't qualify and forged signatures on loan-related documents. The alleged forgery included the signature of a cousin who was in prison.
The indictment says Cantley resigned from the bank after it began an internal review of loans he'd authorized.
First State Bank president and CEO Sam Vallandingham tells WCHS-TV that no customer funds were involved.
Information from: WCHS-TV, http://www.wchstv.com