Grand jury hands down fraud charges in Davis bank failure

Victor Earl Garrett, 57, who once owned Arbuckle Wilderness Park, and Davis businessman Roy Lynn Wesberry, 54, were indicted with charges stemming from several loans connected to the 2011 failure of First National Bank of Davis.
by Brianna Bailey Published: February 25, 2014
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A federal grand jury handed down bank fraud charges on Tuesday against two Davis men, including the former owner of Arbuckle Wilderness Park.

The charges stem from allegedly fraudulent loans federal prosecutors claim the men received that ultimately contributed to the 2011 failure of First National Bank of Davis.

Former First National Bank of Davis president, W.A. “Dub” Moore Jr., also pleaded guilty on Monday to one count of bank fraud in the scheme.

The grand jury returned charges of bank fraud and conspiracy to commit bank fraud against Victor Earl Garrett, 57, who once owned Arbuckle Wilderness Park, and Davis businessman Roy Lynn Wesberry, 54.

According to the charges, Moore knowingly approved fraudulent loans from First National Bank of Davis to Wesberry and Garrett. The loans were taken out in other people’s names, but deposited in Wesberry’s and Garrett’s accounts.

Prosecutors claim Garrett conspired to defraud the First National Bank of Davis by taking out a $481,000 business loan from the bank in another person’s name, identified in court documents only as “J.R.”

Garrett later applied for an additional $3.4 million loan from the bank backed with a guarantee from the U.S. Department of Agriculture. Garrett failed to disclose the previous loan, which pushed the bank over its legal lending limit, according to the charges.

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by Brianna Bailey
Business Writer
Brianna Bailey has lived in Idaho, Germany and Southern California, but Oklahoma is her adopted home. She has a bachelor's degree in Journalism from the Univerisity of Oklahoma and has worked at several newspapers in Oklahoma and Southern...
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