Missouri woman sentenced for $185,000 bank fraud scheme

1 year 10 months 3 weeks ago Thursday, September 28 2017 Sep 28, 2017 Thursday, September 28, 2017 6:15:24 PM CDT September 28, 2017 in News
By: The Associated Press

JEFFERSON CITY (AP) — A Carrollton woman was sentenced to 2.5 years in federal prison without parole for a bank fraud scheme that involved using her neighbor's house to obtain a loan.

Prosecutors say 65-year-old Carol Joyce Noble also was ordered Thursday to pay $267,924 in restitution.

Noble was convicted in March of two counts of bank fraud. Prosecutors say Noble defrauded Central Trust Bank in Jefferson City to obtain a $185,000 loan to buy a convenience store in Stover.

To obtain the loan, Noble changed the address of her home to that of a neighbor's house, without the neighbor's knowledge. She met the appraiser at her neighbor's home and the received an appraisal $100,000 higher than the value of Noble's property.

The business later failed and the fraudulent appraisal was discovered during foreclosure.

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