March 29, 2024
BANGOR DAILY NEWS (BANGOR, MAINE

Judge attaches assets of former loan officer > Bank alleges documents falsified

BAR HARBOR — A Superior Court judge has attached assets belonging to a former loan officer who allegedly removed funds from the First National Bank of Bar Harbor by falsifying loan documents.

While the bank was taking steps this week to protect its missing assets through civil litigation in Hancock County Superior Court, agents with the Federal Bureau of Investigation were reportedly looking into the possible criminal implications of the case. Officials with the U.S. Justice Department in Bangor would neither confirm nor deny such an investigation was under way.

According to documents received by the court Wednesday, the First National Bank of Bar Harbor alleged that between July 15, 1991, and Feb. 6, 1992, George Janes of Hall Quarry, an installment loan officer with the bank, authorized loans totaling 99,532.32 through a series of five loans made to his father-in-law, Elwin Hodgdon, of Seal Cove.

The bank claimed that Janes falsified loan documents and other bank records to receive the proceeds from the loans for his own use. At no time, bank officials said, did Hodgdon or the bank’s directors have any knowledge of Janes’ actions. The FNBBH is seeking repayment of the total loan amount plus interest totalling $112,513.

Efforts to reach Janes for comment were unsuccessful Friday, but a family spokesperson indicated that the former loan officer might have a statement Monday.

In a sworn affidavit taken Wednesday, Frank G. Bean III, president of the First National Bank of Bar Harbor, said the faulty loans were discovered last week. A bank official was in the process of verifying one of the loans with Hodgdon, who immediately denied any knowledge of the transaction.

“George Janes has admitted to me that said loans were falsified and that the monies were not received by Elwin Hodgdon, but were obtained by Mr. Janes for his benefit and use,” Bean said.

Although the bank has a bond available to reimburse the institution for all or part of its loss, Bean said there is a $25,000 deductible provision contained in the guarantee.

On Wednesday, Bean said that Janes had attempted within the last 48 hours to withdraw assets held by the FNBBH. That same day, Superior Court Justice Andrew M. Mead ordered the attachment of $112,513 in Janes’ property after acknowledging there was a “clear danger that the defendant will withdraw goods and credits” from the bank.


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