Williamsport, Pennsylvania – A Berwick banker has been sentenced to one year in prison for using false claims to obtain numerous fraudulent loans.
Matthew W. Mensinger, 49, was the loans manager at First Keystone Community Bank in Berwick when he started submitting bogus loan applications between November 2011 and June 2020.
Meanwhile, Mensinger persuaded family members and business owners to obtain approximately $690,000 in loans from his financial institution, by submitting bogus loan applications allegedly for small business and mortgage purposes. .
Mensinger, in turn, authorized and facilitated loan approvals in his role as financial institution manager. In fact, however, the individuals provided the money to Mensinger, who was not qualified to obtain the loans on his own and promised that he would repay the loans.
In addition to Mensinger’s jail sentence, Chief Justice Brann also ordered
him to perform 30 hours of community service and to pay the compensation still owed to the financial institution, i.e. more than $290,000.