Killeen: Ex-Bank President Sentenced For Fraud

By: Paul J. Gately Email
By: Paul J. Gately Email

KILLEEN (December 12, 2013) The former president of a Killeen bank was sentenced Wednesday to federal prison after he earlier pleaded guilty to bank fraud.

Federal District Judge Walter S. Smith ordered Randall W. Havens to serve two years in federal prison, to be followed by five years on supervised release, and ordered him to pay $212,821.50 in restitution and $100 in a special assessment to the court.

Havens pleaded guilty Oct. 11 in Smith's court to setting up fraudulent loans and using the proceeds for his own benefit.

In a document presented at the plea hearing Thursday, federal agents reported they began an investigation into a process called "nominee loans", in which a bank makes a loan to one person with the intent that another person benefits from the funds.

U.S. Secret Service agents and agents of the Department of Public Safety began an investigation at National Banks of Central Texas Killeen branch in May that eventually led them to a series of "nominee" loans instituted by Havens and from which he took proceeds.

During an interview with agents, the document says, Havens admitted he instituted the fraudulent loans because "he got into some bad investments and needed the money.

In all, according to the document, the 15 loans amounted to about $340,000.


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