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Ex-Loan Officer Pleads Guilty to Fraud, Arson

A former Illinois loan officer and bank vice president has pleaded guilty to federal charges of bank fraud and arson. So reports local FOX 2 News.

jail 1287943 1280According to court documents, Richard “Rick” B. Pigg, of Mt. Vernon, fraudulently obtained more than $600,000 through mortgage loan deals with customers of Community First Bank, where he was employed.

U.S. Attorney Rachelle Aud Crowe said that Pigg also “chose to burn houses and apartment buildings to collect even more money he wasn’t entitled to.”

Read the full article from FOX 2 News

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