CEDAR RAPIDS – A former vice president at Center Point Bank & Trust who aided and abetted the obstruction of an FDIC examination pled guilty on August 27, 2018.
Martin Smith, age 38, from Center Point, Iowa, was convicted of Aiding and Abetting the Obstruction of the Examination of a Financial Institution. At the plea hearing, Smith admitted that he backdated a refinancing loan to obstruct an FDIC investigation.
Sentencing before United States District Court Judge Leonard T. Strand will be set after a presentence report is prepared. Smith remains free on bond previously set pending sentencing. Smith faces a possible maximum sentence of 5 years’ imprisonment, a $250,000 fine, and 3 years of supervised release following any imprisonment.
The case is being prosecuted by Assistant United States Attorney Jacob A. Schunk and was investigated by the FDIC Office of Inspector General and the United States Secret Service.
But will he go up the river. Sounds like he didn’t embezzle a thing. Poor bastard didn’t have a #metoo card most likely. And if they dig a little deeper into his past. Did he in fact grope. This is a case of more #metoo fallout if there ever was one. Highly suspected. lmao