Date: 09-27-2020

Case Style:

Case Number: 1:16-cr-10089-STA

Judge: S. Thomas Anderson

Court: United States District Court for the Western District of Tennessee (Madison County)

Plaintiff's Attorney: United States District Attorney’s Office, Jackson, Tennessee

Defendant's Attorney:

Jackson, Tennessee Criminal Defense Lawyer Directory

OR

Just Call 855-853-4800 for Free Help Finding a Lawyer Help You.

Description: Jackson, Tennessee criminal defense lawyer represented defendant who was charged with bank fraud.

According to information presented in court, Charles Ray Smith, age 71, of Crump, Tennessee owned and operated several aggregate materials businesses in Tennessee, Alabama and Louisiana. From March 2009 until February 2012, Smith defrauded Central Bank in Savannah, Tenn., by depositing and directing others to deposit more than $116 million in fraudulent bank checks into his companies’ bank account. Smith also defrauded Wayne County Bank, in Waynesboro, Tenn., and First Metro Bank, in Muscle Shoals, Ala., by falsifying collateral to obtain loans. As a result, Smith stole more than $ 9.9 million from the victim banks.

Smith faces up to 30 years in prison for each count in the indictment, and a $1 million fine. There is no parole in the federal system.

U.S. Attorney D. Michael Dunavant said, "The financial fraud committed by this defendant is massive, and had a significant negative impact on the shareholders, employees and customers of his bank victims. The U.S. Attorney’s Office places a high priority on protecting the security and integrity of transactions, deposits and assets of financial institutions, and this guilty verdict demonstrates that commitment. Smith has now been held accountable for his brazen crimes of dishonesty."

The case was investigated by the Federal Deposit Insurance Corporation, Office of Inspector General, and the Federal Bureau of Investigation.

Assistant U.S. Attorneys Dean DeCandia and Matt Wilson prosecuted this case on behalf of the United States.

18:371 CONSPIRACY TO DEFRAUD THE UNITED STATES
(1)
18:1344 BANK FRAUD
(2-6)
18:1344 BANK FRAUD
(8-9)

Outcome: 09/25/2020 117 Minute Entry for proceedings held before Chief Judge S. Thomas Anderson: Jury Trial (DAY 5) as to Charles Ray Smith held on 9/25/2020. Judge addressed the parties. Court exhibit #31 (Jury Note) and Court exhibit #32 (Jury Note) marked/admitted. Defendant found GUILTY as to Counts 1-6, Counts 8-9. Verdict as published. Jury polled. Jurors excused. (Sentencing set for 1/5/2021 01:30 PM in Jackson Courtroom 1 before Chief Judge S. Thomas Anderson.) Court adjourned. PRESENT: Matt Wilson, Dean DeCandia for Govt. Steffen Leffler for defendant. (Court Reporter Kristi Heasley.) (mbb) Modified on 9/25/2020 (mbb). (Entered: 09/25/2020)
09/25/2020 118 JURY VERDICT as to Charles Ray Smith (1) Guilty on Count 1,2-6,8-9. (mbb) (mbb). (Entered: 09/25/2020)
09/25/2020 119 Jury Instructions as to Charles Ray Smith. (mbb) (Entered: 09/25/2020)
09/25/2020 120 EXHIBIT AND WITNESS LIST. (mbb) (Entered: 09/25/2020)

The jury convicted Smith of all of the counts in the indictment, charging him with conspiracy to commit bank fraud, and seven counts of bank fraud.

Plaintiff's Experts:

Defendant's Experts:

Comments: