Ex-Republican chair pleads guilty to defrauding Longview bank
Tim Vaughn has entered a plea deal admitting to defrauding a Longview bank.
Sentencing terms of the deal against the former chairman of the Republican Party of Gregg County and six-term White Oak mayor have been sealed by a federal judge, but Vaughn has agreed to forfeit $146,000 in cash.
An FBI investigation found that Vaughn forged signatures on loans with First Bank & Trust-East Texas on March 18, 2016, and with Texas Bank and Trust on March 29, 2016, according to records. Proceeds from the latter loan were applied to outstanding balances on other loans issued to Vaughn and his businesses by the bank, resulting in a loss of more than $95,000.
On May 3 — 10 days before the case was to go to trial — Vaughn pleaded guilty to Count 1 of a four-count indictment charging him with making a false statement to First Bank & Trust-East Texas.
Read more: https://www.news-journal.com/news/local/ex-repub-chair-pleads-guilty-to-defrauding-longview-bank/article_2fe9bc64-7817-11e9-8502-134826ad6991.html
(Longview News-Journal)
Lock him up!
