Creative Financing Leads to Guilty Plea

November 17, 2008


The former chief financial officer and bookkeeper of a Billings, Mont. Mortgage company has pleaded guilty to bank fraud.

Angela Hakala, 35, was accused of lying about funds from mortgage sales in order to keep open a $19.5 million line of credit it had with First Citizens Bank. In her defense, Hakala had said she was trying the company from going under.

Hakala was charged with two counts of mail fraud as well, but those charges may be dropped as part of a plea agreement.

Read story at KXMB News