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Parkes Found Guilty of Bank Fraud for Loans to LLCs

On February 2, 2012, the 6th Circuit Court of Appeals reversed Defendant Timothy Parkes' convictions of bank fraud on all counts and granted his motion for judgment of acquittal. The 6th Circuit held that the district court had incorrectly denied the defendant's motion for acquittal following the jury trial.

Mr. Parkes and his partner, Mr. Mourier, were each charged with ten counts of bank fraud based on loans made to more than ten limited liability companies by Benton Bank. The aggregate amount of these loans totaled millions of dollars. At trial, the government's theory was that Mr. Parkes and the bank's president jointly created the fictitious entries in an effort to disguise some of the bank's earlier, troubled loans to Mr. Parkes. The bank president, also charged with bank fraud, pled guilty. The jury found Co-Defendant Mr. Mourier not guilty on all charges.

Other than the bank fraud counts, Mr. Parkes was also charged with making a false statement to the special agents during the investigation. Mr. Parkes was found guilty on three counts of bank fraud and one count of making a false statement.

The theory of Mr. Parkes' defense was that the president acted alone. However, he was precluded from bringing this defense. He also made a motion for a mistrial after the prosecutor in this case improperly told the jury if they acquitted the defendant, he would get to keep more than $4 million of the bank's money. Mr. Parkes motion for a mistrial was denied. He then timely moved for a judgment of acquittal based on insufficient evidence. The district court further denied this motion and the defendant appealed, challenging the sufficiency of the government's evidence, the exclusion of evidence that the bank's president has previously engaged in identical frauds, and the prosecutor's misconduct.

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