A man from Oklahoma City, Aaron D. Johnson, aged 42, has entered a guilty plea to charges of bank fraud against Farmers Bank. This was announced by U.S. Attorney Robert J. Troester.
Johnson faced charges on January 3, 2025, as per the Information filed against him. Between September 2017 and November 6, 2018, he held the position of President and Chief Executive Officer at Farmers Bank, which operates branches in Carnegie and Oklahoma City. During his tenure, Johnson had access to the bank’s operating account credit card. It is alleged that between September 2017 and July 30, 2018, Johnson used this card for personal expenses, leading to an overdraft of approximately $200,000 in the bank's operating account.
Furthermore, on July 30, 2018, Johnson reportedly approved a loan modification without seeking approval from the bank's board of directors. This modification increased the loan amount. Allegations state that Johnson orchestrated a $200,000 advance on this loan and wired these funds into an account under his control to repay the overdraft he caused.
On February 4, 2025, Johnson admitted in court to executing a scheme to fraudulently obtain money from Farmers Bank through false pretenses. His sentencing could result in up to 30 years in federal prison and a fine reaching $1 million.
The case is being investigated by the Federal Deposit Insurance Corporation Office of Inspector General and prosecuted by Assistant U.S. Attorney Julia E. Barry.