The aftermath of the failed banks in Henry is still being investigated and some are prosecuted. Over at the Atlanta Business Chronicle (ABC)they report Mark Conner of failed FirstCity Bank in Henry, County, GA just received 12 years for his role in the failure, embezzlement and mismanagement of FirstCity.
Mark Conner, who headed up FirstCity Bank in Henry County, was sentenced Thursday to 12 years in federal prison for fleecing the failed FirstCity Bank of Stockbridge and other banks.
He also must pay $19.5 million in restitution to the FDIC and victim banks, will forfeit $7 million and is banned for life from the banking industry.
Read the entire article here.
We’ll continue to see more on Henry county banks as time goes by. the county had several failures and who knows what will come of all of them. Hopefully there wasn’t as much negligence and fraud as FirstCity seems to have gone through with the other failed banks.