Indiana News

Community State Bank former president sentenced

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HAMMOND, Ind. (WOWO): Faking the minutes to bank board meetings is how Mark Warne, former president of Community State Bank, managed to get more than $6 million in fraudulent loans for himself.

Warne, 46, of Brook, was sentenced to six and a half years in prison Thursday, said U.S. Atty. David A. Capp.

Warne used the identities of at least four people, three of whom were family members. None of them had ever asked for loans, said Capp.

Warne concealed the loans from bank board members by creating two sets of minutes for the meetings of the board of directors, one for the bank’s board of directors to read and approve and second for the Federal Deposit Insurance Corporation (FDIC) examiners to review, said a news release.

While the minutes shown to the FDIC examiners made it appear as if the bank’s board of directors was aware of the loans, the actual board minutes made no mention of the loans. Warne served as President of Community State Bank from on or about September of 2010 to September of 2015. Warne’s employment with Community State Bank ended after his scheme to defraud the bank was uncovered.

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