° empty

Former Meadville CEO sentenced to prison

JACKSON — A former Meadville bank CEO was sentenced to serve six-and-a-half years in prison and to pay more than a million dollars restitution Tuesday for bank fraud and money laundering.

Larry Barnette Hill, 58, was formerly the chief executive officer of People’s Bank of the South. The restitution he must pay — totaling $1,243,703 — must be made to the bank.

Hill was also sentenced in federal court to five years supervised release after prison.

U.S. prosecutors alleged that from 2004 until 2012 Hill misappropriated money from the bank’s payroll clearing account and deposited it in accounts controlled by his family members.

Prosecutors said Hill likewise had a shell bank account that was used to direct the funds to himself.

The former CEO also used the bank’s credit cards for personal expenses, and issued checks in the bank’s name for his own purposes — including to make payments on a personal loan at another bank.

Hill hid the fraud by making false entries in the bank’s ledger that made the misappropriations appear to be bank expenses. He likewise inflated the bank’s monthly budgets to conceal the embezzlement.

Hill pleaded guilty to the charges against him in April.

He could have received a maximum of 30 years prison and a $1 million fine for bank fraud and a maximum of 20 years in prison and a $500,000 fine for money laundering.

People’s Bank of the South announced in late June that it would be acquired by and merge with United Mississippi Bank, which is headquartered in Natchez.

News

Photo gallery: Jewish community celebrates Passover with Seder dinner

News

NASD graduation rate up, but still lags behind state average

News

The Dart: Vidalia man studies, takes care of family, too

News

Natchez Early College Academy Fun Day to help raise money for trip to Washington, D.C.

News

Parent University set for Thursday

News

Sunday focus: Voters to determine a quarter million in salaries May 10

News

Concordia Parish Sheriff’s Office investigates body found in Monterey

News

County seeking ambulance proposals

News

‘Suzi’s Girls’ remember lasting legacy left by coach

News

Natchez man killed in Ferriday wreck Friday night

News

Photo gallery: The bluff has gone to the DockDogs

News

Tactics in case surrounding alleged attack of parish DA questioned

News

Student charged in verbal assault of teacher

News

City back in court to determine damages in Roundstone case

News

Report: Cuts put school district $1.5M short

News

Faith and Family: R.V.I.C.S. helps Children’s Home

News

Photo gallery: Chalk artist inspired by God creates artwork at First Baptist Church

News

Man previously arrested on rape charges, charged with another sex crime

News

Natchez-Adams School District to pay $127K to former principal

News

Judge dismisses former assistant principal’s lawsuit against school district

News

City receives Urban Youth Corps grant

News

Natchez police make arrest in weekend attack

News

Natchez tourism director’s car left in limbo without commission

News

News photos: Ferriday fire