A Madison loan officer has pleaded guilty to federal embezzlement charges, according to the U.S. Attorney’s office.
According to court documents, Thomas King Robb, Jr., 37, used his position as a loan officer at a bank to approve fraudulent loans, and used the proceeds from those loans for his own benefit. Robb created false documents using his knowledge and experience as a loan officer and created fraudulent loans in the names of other people.
Robb then used the money from those loans to pay off previous loans and to keep his personal business afloat.
Robb is scheduled to be sentenced on Tuesday, February 8, 2022, and faces a maximum penalty of 30 years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The Federal Bureau of Investigation is investigating the case, said Acting U.S. Attorney Darren J. LaMarca and Special Agent in Charge Jermicha Fomby of the FBI in Mississippi.