Ex-South Texas banker gets prison for $4.5M fraud

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Associated Press

Posted on June 13, 2014 at 9:32 AM

McALLEN, Texas (AP) — A former South Texas banker convicted of fraud has been sentenced to more than three years in prison and must repay nearly $4.5 million.

A federal judge in McAllen on Thursday sentenced 65-year-old Sondra Tredaway of Mission. Tredaway managed a Texas State Bank branch in McAllen.

She pleaded guilty in 2011 to bank fraud in what investigators say involved 58 fictitious loans from 1998 through 2010. Investigators say Tredaway used the names and personal information of several people, without their permission, to secure loans and then she took the money.

The fraud was discovered when BBVA Compass Bank purchased Texas State Bank and began reviewing their loan records.

Tredaway must serve 41 months behind bars.

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