Bank of Billings President Matthew Spillman pleaded guilty today in U. S. District Court in Springfield to two counts of bank fraud.
Spillman's crime was described in the grand jury indictment:
Between approximately May 20, 2011 and April 13, 2012, in the Western District of Missouri, the defendant, MATTHEW D. SPILLMAN, devised and executed a scheme to defraud the Bank of Billings, and to obtain moneys, funds and other property owned by, and under the custody and control of the Bank of Billings by means of false and fraudulent pretenses, representations and promises.
As a part of this scheme, the defendant caused the bank to grant loans in nominee names, and kept the loan proceeds for himself. As a further part of the scheme, the defendant added debt to bank customers’ loans without the borrowers’ knowledge, and converted the additional funds to his own use. As a further part of the scheme, the defendant advanced funds on bank customers’ lines of credit, and converted those funds to his own use. As a further part of the scheme, the defendant used a bank credit card for personal expenses. As a further part of the scheme, the defendant embezzled and converted to his own use loan payments made by bank customers. As a further part of the scheme, the defendant caused the bank to issue cashier’s checks without depositing funds to cover those checks.
On or about September 22, 2011, in Billings, in Christian County, in the Western District of Missouri, the defendant, MATTHEW D. SPILLMAN, for the purpose of executing the above-described scheme to defraud and to obtain by means of false and fraudulent pretenses, representations and promises, moneys, funds and property owned by and under the custody and
control of a financial institution, caused the Bank of Billings to deposit funds, in the amount of
$68,091, to the checking account of a bank customer identified herein as “W.H.,” by initiating
loan number **662.
No date has been set for sentencing.
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