GREAT FALLS, Mont. (NMB) – A Lewistown man was arraigned in U.S. District Court in Great Falls last week after being indicted by a grand jury based on allegations of bank fraud.
Eric Edward Mack, 42, pleaded not guilty to two counts of bank fraud.
The first count of the indictment alleges that from November 2015 through January 2018, Mack intentionally defrauded Garfield County Bank and Fergus County Federal Credit Union.
The indictment says that specifically, in his personal capacity with Mack Ranch, LLC, he “represented different ownership of cattle to each financial institution and secured various loans at both financial institutions with the same cattle already secured to the other institution, and did not properly inform either…of the extent of their outstanding loan obligations and secured collateral at the other institution.”
The second count alleges that from April through June of 2018, Mack once again defrauded Garfield County Bank and Fergus County Federal Credit Union.
Specifically, in his personal capacity with Mack Ranch, LLC, he “sold cattle belonging to them personally or in their business capacities and did not pay the proceeds of the cattle sales to either (financial institution), even though both financial institutions had secured claims on cattle belonging to Mack personally and his business…without approval from either financial institution.
If convicted, Mack would have to forfeit any property derived from “proceeds traceable to the offense.”
If convicted of the most serious crime, Mack faces a maximum 30 years in prison, a $1 million fine and five years of supervised release. Mack was released pending further proceedings. The FBI investigated the case.
Defendants are presumed innocent until proven guilty
