ST. LOUIS (KMOX) – A federal grand jury indicts a former head of the St. Louis County Planning Commission on one count of bank fraud.
Douglas Morgan, 65, is accused of lying about his financial status on loan applications to obtain a series of loans from Commercial Bank from 1999 through 2010.
Morgan had served as on the Board of Directors on the bank he’s accused of swindling, as well as on the civilian board of the St. Louis area Major Case Squad.
Prosecutors say Morgan has $1.5 million in outstanding balances on the loans.
If convicted, he faces up to thirty years in prison and $1 million in fines.
Morgan faces up to 30 years in prison and fines of up to a million dollars, if convicted.
He is expected to enter a not guilty plea when he is arraigned on Monday.
There was no allegation of wrongdoing in connection with his official duties for the county .