A former bank vice-president has been indicted by a federal grand jury on charges of fraudulently obtaining loans in the name of an elderly relative, according to the U.S. Attorney's Office.
John Aman, 60 of Clarksburg, has been charged with 11 counts of Bank Fraud, the U.S. Attorney's Office said. Aman, a former executive at Huntington National Bank and West Union Bank, is accused of borrowing nearly half a million dollars in the name of an in-law by abusing a power of attorney that the victim had given him, according to a news release.
Aman is also accused of abusing his position at the two banks to bypass various policies and regulations that may have prevented the loans from being approved otherwise. He also misrepresented the purpose of the loans to the lenders, U.S. Attorneys said.
In addition to his loans with Huntington and West Union, U.S. Attorneys also accuse Aman of fraudulently borrowing funds from Freedom Bank and using stock owned by the victim as collateral for the loan. When the required payments on that loan were not made, the victim's stock was sold to satisfy the obligation, officials said. The victim of the scheme died in 2011 at the age of 89.
"A power of attorney can be a valuable tool, but it can also be abused if entrusted to the wrong person," said U.S. Attorney William Ihlenfeld. "Unfortunately, older West Virginians are oftentimes on the wrong end of schemes involving the fraudulent use of these very powerful documents," Ihlenfeld said.
Aman faces up to 30 years in prison on each of the 11 counts and up to a $1 million fine. The U.S. Attorney's Office is also seeking a money judgment against Aman in the amount of at least $372,164.
The case was investigated by the Federal Bureau of Investigation and will be prosecuted by Assistant United States Attorney Andrew Cogar.
Aman is currently the general manager of Centra Transit in Clarksburg. Centra Board member Bernie Fazzini said the indictment currently isn't affecting Aman's position and board members will meet at a later date to determine the future of Centra Transit.