CEDAR RAPIDS – A former bank president who aided the obstruction of an FDIC examination was sentenced to 5 years’ probation.
Cecil Capper, age 74, from Marion, Iowa, received the probation term after a June 25, 2019 guilty plea to aiding and abetting the obstruction of an FDIC investigation.
Information at sentencing showed that Capper worked as a bank president from 2009 to 2013, and that in December 2010 Capper prepared a handwritten memo and made an entry in the bank’s computer system purporting to show that Capper’s bank had assumed a $500,000 loan from another affiliated bank. Capper did so in order to aid in concealing underlying delinquent loans from FDIC scrutiny. The bank ended up being unable to collect on the majority of the $500,000 loan, ultimately losing $462,304.84.
Capper was sentenced in Cedar Rapids by United States District Court Judge C.J. Williams. Capper was sentenced to 5 years’ probation. He was ordered to make $462,304.84 in restitution.
The case was prosecuted by Assistant United States Attorney Anthony Morfitt and investigated by the Federal Deposit Insurance Corporation Office of Inspector General and the United States Secret Service.
