United States of America v. Bermun Deamon McGhee

Birmingham, Alabama, criminal defense lawyer represented the Defendant charged with making false statements to a federally insured institution in violation of 18 U.S.C. 1014, bank fraud in violation of 18 U.S.C. 1344, making false statements in violation of 18 U.S.C. 1001, and making unlawful monetary transactions in violation of 18 U.S.C. 1957.

Reported by Kent Morlan

Bermun D. McGhee, 46, made false statement to a federally insured institution, bank fraud, money laundering, and making a false statement to the FBI.

McGhee applied for a $2.3 million loan to purchase helicopters. In support of his application, McGhee submitted a Personal Financial Statement in which he falsely represented that he owned assets exceeding $7.6 million, including more than $900,000 in specific banks, hundreds of thousands of dollars in stocks, and $1.5 million in an insurance policy’s cash surrender value. McGhee also submitted false tax returns in support of his application.

The bank ultimately decided not to offer McGhee a loan to buy helicopters but did offer a purchase credit card for his business, using the same financial information he had previously provided. McGhee signed the purchase credit card application form, agreeing that his representations were accurate, and then ran up a balance exceeding $550,000. McGhee was able to exceed the credit limit by making more than fifty payments on the account that were subsequently reversed due to insufficient funds or because the account used to make the payment was fake.

Finally, while McGhee was being interviewed by an FBI agent, he falsely stated that he could pay the bank back because he possessed $1.5 to $2 million in a retirement account at Charles Schwab. Per evidence at trial, when McGhee made this statement, he had a retirement account with Charles Schwab that had less than $1,600 in it.

The Defendant was found guilty by a jury.