Former bank CEO sentenced - KNOE 8 News; KNOE-TV; KNOE.com |

Former bank CEO sentenced

Posted: Updated:
MGN Online MGN Online

JACKSON, Miss. (KNOE 8 News/AP) - A former bank executive has been sentenced to more than six years in federal prison for money laundering and bank fraud.

U.S. Attorney Gregory K. Davis and Daniel McMullen, the FBI agent in charge in Mississippi, announced the sentence Tuesday in a news release

Authorities say 58-year-old Larry Barnette Hill of Meadville served as CEO of People's Bank of the South in Bude.

Prosecutors say from 2004 through 2012, Hill fraudulently withdrew money from the bank's payroll clearing account and deposited those funds into the accounts of his family members and into a shell account he created.

He was sentenced to 78 months during a hearing Tuesday in U.S. District Court in Jackson.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.