the republic logo

Former Savannah bank CEO sentenced for role in fraud scheme that led to bank's collapse


SAVANNAH, Georgia — The former president and CEO of a failed Savannah bank has been sentenced to more than three years in prison in a fraud scheme that led to the bank's collapse.

The Savannah Morning News reports ( 59-year-old Heys Edward McMath III was sentenced on Tuesday to three years and six months in prison. The former First National Bank president is also ordered to repay a portion of $9.7 million that was stolen from the bank in the scheme.

McMath pleaded guilty to defrauding the bank out of millions of dollars through manipulated loans.

He was one of seven former bank officials named in a 41-count indictment. He and others were charged with conspiracy, bank fraud, making false entries in bank records and false statements to a bank.

Information from: Savannah Morning News,

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.