Local Businessman Indicted On 52 Counts of Bank Fraud

Summary

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A local businessman who was sued by Zions First National Bank last year for bilking it out of millions of dollars is now facing some hefty federal charges.

An indictment unsealed Wednesday against Jeffrey F. Geddes shows the flooring materials dealer faces 52 counts of bank fraud for creating a fake company and documents to convince Zions Bank, with which he had a line of credit, to pump up his credit line to $30 million. The indictment is also seeking about $8 million in restitution; however a civil suit filed by Zions against Geddes last year is seeking the return of $14 million in funds.

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Extract

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Local Businessman Indicted On 52 Counts of Bank Fraud

Federal prosecutors allege in the charges that Geddes, wh...

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