NORFOLK, Va. (AP) - A former Bank of the Commonwealth executive has pleaded guilty to bank fraud.
Former bank vice president Jeremy C. Churchill of Norfolk made the plea in federal court Wednesday.
Recardo S. Lewis of Norfolk also has been charged with conspiracy in the case. A court date hasn't been set.
Media outlets report that Churchill was the bank's chief commercial loan officer and Lewis is a vice president at Chesapeake-based developer Tivest Development and Construction.
Churchill was charged with causing the bank to fraudulently lend more than $5 million to Tivest for projects in Norfolk and Virginia Beach.
Lewis is charged with using loan proceeds for other purposes.
The bank closed in 2011.
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