MINOT, N.D. (AP) _ A Minot bank loan officer accused in a scheme
to help companies obtain millions of dollars in bogus loans says he
will plead guilty.
Howard Palmer is charged in federal court with 22 counts,
including bank fraud and false statements. A plea agreement filed
Tuesday calls for him to plead guilty to two counts.
Authorities say the 57-year-old Palmer lied to a committee about
various loan applications, including a $2.5 million loan for a
Florida company involved in the sale of automobiles and automobile
parts.
Palmer was a loan officer and vice president for the Minot
branch of American State Bank and Trust of Dickinson. Defense
attorney Ryan Sandberg has said his client did not benefit
personally or professionally from the loans.
Palmer faces a maximum penalty of 30 years in prison and a $1
million fine.
