A former Barboursville bank officer
was sentenced to five years in federal prison Monday after an earlier guilty
plea to misallocating more than $1.4 million in fraudulent loans.
Jackie Cantley, 34, pleaded guilty
last February after investigators uncovered his practices of approving loans at
the First State Bank in Barboursville in excess of his lending authority and
without disclosing the connections he had with the ones receiving the money.
Investigators said had the bank
known of the conflicts the loans would have not been approved.
Cantley was vice president at the
time and in charge of commercial lending.
He was sentenced to five years
behind bars and ordered to repay the $1.4 million.
