A father and son duo have been sentenced for their part in committing bank fraud.
According to information released by the office of the United States Attorney for the Middle District of Georgia, 57-year-old Brad Heard Sr. and 35-year-old Brad Heard Jr. were sentenced to 30 months and 33 months respectively, in federal prison. Both were ordered to pay restitution of $5 million.
Both Heards entered guilty pleas and admitted that they paid bribes and kickbacks to a banker and his wife in Bainbridge in an attempt to influence and reward the banker for making loans to them, with the total amount loans totaling $13 million.
"The defendants in the case used kickbacks and bribes from loan proceeds from a bank, whose primary purpose is to help farmers, to induce the lending officer to make improper loans. They tried to game the system, and will now find themselves in federal prison for their crimes," said U.S. Attorney Michael Moore.