Father and son sentenced in loan scheme - WLOX.com - The News for South Mississippi

Father and son sentenced in loan scheme

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Brad Heard Sr. outside of court Brad Heard Sr. outside of court
ALBANY, GA (WALB) -

Two men who pleaded guilty to accepting commissions or gifts for procuring loans and giving kickbacks to a loan officer were sentenced in court Thursday.

Brad Heard Jr. was sentenced to serve 33 months in prison. His father Brad Heard Sr. was sentenced to serve 30 months in prison. A judge ordered the two to pay $5 million in restitution.

Prosecutors said the pair gave kickbacks to a Georgia Farm Credit loan officer in order to complete the deals.

The bank estimated their loss at more than $10 million, but the defense claimed evidence for the amount was not sufficient.

Copyright 2014 WALB.  All rights reserved.

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