Western Md. Man Pleads Guilty In Bank Fraud Case

BALTIMORE (AP) — A Garrett County developer faces up to 30 years in prison after pleading guilty to bank fraud conspiracy in a scheme involving three properties in western Maryland and West Virginia.

Lewis Strosnider pleaded guilty Thursday in federal court in Baltimore. He’ll be sentenced Nov. 19.

Co-defendant Samuel Vansickle has pleaded not guilty to all charges.

Strosnider acknowledged his role in a series of fraudulent transactions from 2001 to 2005 that caused three banks to suffer losses totaling more than $1 million. The banks were North Carolina-based BB&T Corp.; Ohio-based Sky Bank, since acquired by Huntington Bancshares; and K Bank, a Randallstown, Maryland, institution that failed in 2010.

Along with prison time, prosecutors are seeking forfeiture from the two defendants of about $3.8 million and 40 properties held in VanSickle’s name.

(Copyright 2013 by The Associated Press. All Rights Reserved.)


More From CBS Baltimore

Track Weather On The Go With Our App!
Your Podcast Network Play.it

Listen Live