Mogadore Resident Charged with Bank Fraud

March 5, 2010 - Steven M. Dettelbach, United States Attorney for the Northern District of Ohio, announced today that an Information was filed in U.S. District Court in Cleveland, Ohio, charging Patricia Lynn Davis-Boarman, age 52, of Mogadore, Ohio, with one count of Bank Fraud (Title 18, U.S.C., § 1344) in connection with a scheme to defraud Falls Savings Bank and North Akron Savings Bank, causing net losses to North Akron Savings Bank totaling approximately $143,466.86.

The information charges that between 2001 and 2009, Davis-Boarman, while employed in management positions at Falls Savings Bank and North Akron Savings Bank, executed and attempted to execute a scheme and artifice to defraud said institutions by approving and obtaining loans in the names of various bank customers, without their knowledge or consent, and converting the loan proceeds to her own use. The Information charges that Davis-Boarman fraudulently approved and obtained five loans in this manner, including unauthorized loans in the name of her mother-in-law. The Information also charges that Davis-Boarman made unauthorized withdrawals in excess of $33,000 from a Money Market account also maintained in her mother-in-law’s name.

If convicted, the defendant’s sentence will be determined by the Court after a review of factors unique to this case, including the defendant’s prior criminal record, if any, the defendant’s role in the offense and the characteristics of the violation. In all cases, the sentence will not exceed the statutory maximum and, in most cases, it will be less than the maximum.

This case is being prosecuted by Assistant U.S. Attorney Robert W. Kern of the Cleveland U.S. Attorney’s Office, following an investigation by the Akron office of the Federal Bureau of Investigation.

An information is only a charge and is not evidence of guilt. A defendant is entitled to a fair trial in which it will be the government's burden to prove guilt beyond a reasonable doubt.