Three men accused of financial crimes while employed at North Dakota banks
FARGO (KVRR) – A federal grand jury has indicted three Beulah, N.D. men for engaging in financial crimes while employed at North Dakota banks in Beulah and Glen Ullin.
Acting U.S. Attorney Nick Chase says 34 year-old Brady Daniel Torgerson is charged with bank fraud, misapplication of bank funds, making false entries in bank records, and aggravated identity theft.
Sixty-year-old Brent Torgerson and 32-year-old Kelly Huffman are each charged with misapplication of bank funds.
The indictment alleges that Brady Torgerson engaged in a scheme to defraud both financial intuitions by issuing bank funds to people not entitled to the funds, failing to register banking transactions, creating fraudulent loan obligations, and concealing his activities.
The indictment also says Brent Torgerson misapplied funds by issuing a $724,558.48 cashier’s check to his son, Brady Torgerson,
without obtaining promissory notes and necessary paperwork.
Huffman is accused of unlawfully issuing a $125,648.64 check advance to a separate North Dakota financial institution at Brady Torgerson’s request.
All three defendants have pleaded not guilty and have been released pending trial.