Former executive pleads guilty to hampering bank examination
CEDAR RAPIDS, Iowa (AP) - An eastern Iowa banker has pleaded guilty to hampering a bank examination.
Prosecutors say 38-year-old Martin Smith entered the plea Monday in U.S. District Court in Cedar Rapids. The charge: aiding and abetting the obstruction of the examination of a financial institution. Prosecutors say Smith admitted backdating a refinancing loan to obstruct an investigation by the Federal Deposit Insurance Corporation.
Smith was a vice president at Center Point Bank & Trust.
His sentencing hasn't been scheduled. He faces up to five years in prison.
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