June 9, 2016 — House Banking Chairman Greg Morris has settled a federal complaint over his role in the 2012 failure of a south Georgia bank.
Morris and other board members of the defunct Montgomery Bank & Trust, through their attorneys, filed court papers June 3 acknowledging that the settlement with the Federal Deposit Insurance Corp. was completed.
May 18, 2016 — House Banking chair Greg Morris has tentatively agreed to settle federal charges that he and other executives of a south Georgia bank allowed a flim-flam man to run it into the ground, court papers show.
News of the potential settlement comes in the midst of a tough re-election fight for Morris, whose opponent came within 71 votes of unseating him in 2014.
The Federal Deposit Insurance Corp.’s 2015 complaint alleges that lax oversight by Morris and others allowed investor Aubrey Lee Price to swindle the defunct Montgomery Bank & Trust of $14.7 million. Papers filed Tuesday in federal court state Morris and other board members have “agreed to the form” of a written settlement with the FDIC. The deal could be sealed by June 3.
A lawyer and two top executives allegedly made more than $5 million by defrauding the Stockbridge bank that employed them, prosecutors said today. Robert E. Maloney Jr., once in-house counsel for FirstCity Bank, is accused of conspiring with the bank’s president and senior loan officer to secure loans to borrowers who were buying property that one of them owned.