ALEXANDRIA, La. – United States Attorney David C. Joseph
announced that a federal grand jury returned a three-count indictment on June
26, 2019, charging Roger D. Boggs, 50, of Alexandria, with bank fraud and
making false statements on loan applications in order to receive more than
$190,000. Boggs was charged with one
count of bank fraud and two counts of false statements on loan applications.
According to the indictment, Boggs engaged in a series of
schemes to obtain a commercial loan from Red River Bank between May 2015 and
March 2016. Boggs submitted fraudulent stock certificates and signed a
fraudulent mortgage in support of his loan request, specifically, on June 5,
June 11 and September 25 of 2015. Among
other things and in an effort to influence the bank to grant his loan
application, Boggs falsely claimed that he owned 26 million shares of the
company American Specialty Alloys Inc. (ASA), which he valued at $9 a share and
pledged 1 million ASA shares to the bank as collateral. Boggs requested an additional disbursement to
the loan on June 11, 2015, and he renewed the existing loan on September 25,
2015, both times pledging 1 million shares of ASA stock as collateral.
Boggs also fraudulently offered the bank a mortgage on real
estate he allegedly owned in Kentucky but failed to inform the bank that he had
previously sold the property on September 12, 2015. The bank disbursed a total of $198,712 to Boggs
in reliance on the false information he provided.
If convicted, Boggs faces 30 years in prison for each count
of bank fraud and false statement on a loan application. He also faces up to
five years of supervised release, a $1 million fine and restitution.
The FBI conducted the investigation. Assistant U.S. Attorney Tiffany E. Fields is
prosecuting the case.
An indictment is merely an accusation and a defendant is
presumed innocent unless and until proven guilty beyond a reasonable doubt.
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