Lawrence banker sentenced to five years

Loan scheme involved 25 Kansas banks

By

State News

November 12, 2020 - 10:49 AM

LAWRENCE, Kan. (AP) — A former Lawrence banker was sentenced Tuesday to five years in federal prison for his role in a loan scheme that forced several Kansas banks to write off millions of dollars in losses.

Troy Gregory, 53, of Lawrence was also ordered to pay $4.7 million in restitution, the Lawrence Journal-World reported. He was convicted in August 2019 of four counts of bank fraud and two counts of false statements.

In 2007, Gregory, a former executive and loan officer at University National Bank in Lawrence, tried to secure a $15.2 million construction loan for bank customers who wanted to build an apartment complex in Junction City. The loan was spread to 25 other Kansas banks.

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