Federal Deposit Insurance Corporation
Office of Inspector General

Four El Reno Men Plead Guilty for Their Roles in The Failure of The Bank of Union

United States Department of Justice
 The United States Attorney's Office, Western District of Oklahoma
Press Release

May 16, 2016

Four El Reno Men Plead Guilty for Their Roles in The Failure of The Bank of Union

Oklahoma City, Oklahoma – CODY GENE BOMHAK, 34, TERRY GENE BOMHAK, 53, and GARY DEAN BOMHAK, 50, all of El Reno, Oklahoma, entered guilty pleas last week for their involvement in the failure of The Bank of Union, announced Mark A. Yancey, Acting United States Attorney for the Western District of Oklahoma.

In April, 2015, each of the three defendants were separately charged with making a false statement for the purpose of influencing the action of The Bank of Union, in violation of 18 U.S.C. § 1014. At their change of plea hearings before U.S. District Judge Timothy D. DeGiusti, Cody and Terry Bomhak each admitted that their conduct resulted in a loss of between $25,000,000.00 and $50,000,000.00 to The Bank of Union. Gary Bomhak admitted to conduct causing between $3,500,000.00 and $9,500,000.00 in loss to the bank.

In a related case, JUSTON TECH, 39, also from El Reno, previously pleaded guilty to making false statements in order to influence The Bank of Union. At his plea hearing late last year, Tech admitted to causing a loss amount of between $2,500,000.00 and $7,000,000.00 to the bank.

At sentencing, each of the defendants face up to 30 years in prison, a $1,000,000 fine, and up to five years of supervised release. According to the terms of their plea agreements, they will also be ordered to pay restitution to the victims of their conduct in an amount to be determined by the court at the time of sentencing.

This case is the result of an investigation by the Federal Deposit Insurance Corporation and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney Julia E. Barry.

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