3 North Dakota bank employees accused of financial crimes
The three men are from Beulah, and they each pleaded not guilty to their charges.
BISMARCK — A federal grand jury has indicted three men, including a bank president, on suspicion of committing financial crimes while working at North Dakota banks, according to a statement from the U.S. attorney's office.
One of the men, 34-year-old Brady Daniel Torgerson, was president of First Security Bank – West in Beulah and a loan officer at The Union Bank, which has branches in Beulah and Glen Ullin.
He's charged with bank fraud, misapplication of bank funds, making false entries in bank records and aggravated identity theft.
The two other defendants — Torgerson's father, Brent D. Torgerson, 60, and Kelly M. Huffman, 32 — are each charged with one count of misapplication of bank funds.
The three are from Beulah and each pleaded not guilty to their charges. U.S. Magistrate Judge Clare Hochhalter released them pending trial, which is set for Dec. 7.
An indictment unsealed Thursday, Nov. 4, alleges Brady Torgerson schemed to issue "bank funds to individuals not entitled to these funds, failing to register banking transactions, (and) creating fraudulent loan obligations" against three people, according to prosecutors.
The indictment also alleges Brent Torgerson, as a loan officer at The Union Bank, misapplied bank funds by issuing a $724,558.48 cashier’s check to his son without obtaining promissory notes and other needed paperwork.
Huffman, who worked at First Security Bank – West, is accused of misapplying bank funds by issuing a $125,648.64 check advance at Brady Torgerson’s request, according to the prosecutors.