3 North Dakota men accused of financial crimes at 2 banks
BISMARCK, N.D. (AP) — Three North Dakota men are accused of committing financial crimes while working at banks in Beulah and Glen Ullin, federal authorities announced Thursday.
All three defendants are from Beulah. Brady Torgerson, 34, is charged with committing bank fraud, misapplication of bank funds, making false entries in bank records and committing aggravated identity theft.
The indictment alleges that Torgerson issued bank funds to individuals not entitled to these funds, failed to register banking transactions, created fraudulent loan obligations and made moves to conceal his activities.
Torgerson’s father, Brent Torgerson, 60, and Kelly Huffman, 32, are each charged with one count of misapplication of bank funds.
Brent Torgerson is accused of illegally issuing a cashier’s check worth nearly $725,000 to Brady Torgerson. Huffman unlawfully issued a nearly $126,000 check advance to a separate North Dakota financial institution at Brady Torgerson’s request, prosecutors said..
The state Bank Board in July barred Brady Torgerson from working at any financial institution in North Dakota, accusing him of issuing loans above the lending limits, making loans at a reduced interest rate and distorting the bank’s financial position on quarterly reports.
The board said Torgerson made 91 loans totaling $12.7 million without securing liens or gathering financial information.
Lawyers for the three men could not be reached late Thursday.