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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Rogue Valley pair hope supporters will breathe life into 'Don't Die' ... Mail Tribune 100: Oct. 19, 1915 ... RCC lands $14.6 million job-training grant for low-income students ... Rogue Valley pair hope supporters will breathe life into 'Don't Die' ... Mail Tribune 100: Oct. 19, 1915 ... RCC lands $14.6 million job-training grant for low-income students ... WHITE-COLLAR CRIME Eagle Point man indicted on bank fraud and other charges Comment By The Associated Press MailTribune.com By The Associated Press Posted Jun. 2, 2015 at 2:00 AM Updated Jun 2, 2015 at 9:47 AM By The Associated Press Posted Jun. 2, 2015 at 2:00 AM Updated Jun 2, 2015 at 9:47 AM » Social News OKLAHOMA CITY — A federal grand jury has indicted the former president of an Altus bank and a business partner on bank fraud and other charges, federal prosecutors said Monday. The indictment names Paul Harold Doughty, 66, of Edmond, Oklahoma, and Fred Don Anderson, 66, of Eagle Point, Oregon, U.S. Attorney Sanford Coats said. The 15-count indictment also includes allegations of conspiracy, making false statements to banks and misapplication of bank funds. The allegations involve loans at First State Bank of Altus, where Doughty was president and chairman. In July 2009, state banking regulators closed the bank due to loan losses and the Federal Deposit Insurance Corporation was appointed as the bank's receiver. The indictment alleges Doughty and Anderson committed fraud involving three alleged loan schemes, including a series of loans to finance a Colorado real estate development. In 2006 and 2007, Doughty and Anderson recruited buyers for real estate lots, and Doughty approved and issued 14 loans to buyers totaling more than $10 million for Mountain Adventure Property Investments, a company in which Anderson had an indirect ownership interest and served as president and manager, according to the indictment. Each loan exceeded Doughty's individual lending authority and most were issued without bank loan committee or board approval, including a $580,000 loan to Anderson's personal company, the indictment alleges. Another scheme involved five $2.5 million loans for investments in the Altus-based Quartz Mountain Aerospace, Inc., which allegedly also exceeded Doughty's lending authority. If convicted, Doughty and Anderson face up to 30 years in prison and a $1 million fine on each count. Doughty's arraignment is set Friday and Anderson's is on June 10. Doughty's attorney, Robert Wyatt, did not immediately return a telephone call seeking comment. Court records do not indicate whether Anderson has an attorney. By The Associated Press MailTribune.com By The Associated Press Posted Jun. 2, 2015 at 2:00 AM Updated Jun 2, 2015 at 9:47 AM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. MailTribune.com | P.O. Box 1108, Medford, OR 97501