BISMARCK, ND (AP) – Three North Dakota men are charged with committing financial crimes while working at banks in Beulah and Glen Ullin, federal officials said Thursday.
The three defendants are from Beulah. Brady Torgerson, 34, is accused of committing bank fraud, embezzling bank funds, making false bank statements and committing aggravated identity theft.
The indictment alleges that Torgerson issued bank funds to people not entitled to those funds, failed to record bank transactions, created fraudulent loan obligations and took steps to cover up his activities.
Torgerson’s father Brent Torgerson, 60, and Kelly Huffman, 32, are each charged with one count of embezzlement of bank funds.
Brent Torgerson is accused of illegally issuing a cashier’s check valued at nearly $ 725,000 to Brady Torgerson. Huffman illegally issued a check advance of nearly $ 126,000 to a separate North Dakota financial institution at the behest of Brady Torgerson, prosecutors said.
In July, the state bank’s board of directors banned Brady Torgerson from working at a North Dakota financial institution, accusing him of issuing loans in excess of loan limits, making loans to a reduced interest rate and distorting the financial position of the bank on quarterly reports.
The board said Torgerson made 91 loans totaling $ 12.7 million without guaranteeing any liens or collecting financial information.
Lawyers for the three men could not be reached on Thursday evening.