A Georgetown man has been sentenced to nearly six years in prison for bank fraud.
Lee C. Tevis, 59, was ordered to serve 69 months for fraudulently obtaining loans of more than $1 million from American Founders Bank in Frankfort, according to a news release from the U.S. attorney's office for the Eastern District of Kentucky.
Tevis, a home builder, set up a bogus company name to qualify for the loans, the news release said. After he qualified, he used the Social Security number of his foreman's 5-year-old child to pass the bank's credit checks, the release said.
The money was supposed to be used to build a home in Frankfort, but was used to pay off Tevis' personal loans and debt on other construction projects, officials said. The bank foreclosed on the home.
Lee was also found guilty of embezzlement, aggravated identity theft and a false loan application.
American Founders Bank President Jim Tate, who approved Tevis' loans, pleaded guilty to bank fraud and was sentenced to three years in prison. Both men will serve their time in federal prison.