PORTLAND, Ore. (AP) – Two former top bank executives accused of committing bank fraud have been convicted of conspiracy.
The Oregonian/OregonLive reported Tuesday that a jury found Bank of Oswego’s co-founder and former Chief Executive Dan Heine and the Chief Financial Officer Diane Yates guilty of falsifying entries in the bank’s books for five years.
Prosecutors say Heine and Yates falsified the bank records to cover up bad loans from regulators and the bank’s own board.
They were convicted on 12 counts of making false entries, each carrying a 30-year maximum prison sentence.
Their sentencing is scheduled for March 5.
Haine’s lawyer and Yates’ lawyer say they plan to challenge the verdict.