Ohio man admits to defrauding Kentucky bank

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COVINGTON, Ky. (WTVQ)- According to the U.S. Attorney’s Office for the Eastern District of Kentucky, an Ohio man has admitted in federal court he defrauded an Ashland bank and seventeen people and businesses in Kentucky, Ohio, West Virginia, and Wisconsin of more than $4.6 million.

Anthony McQuaid, 47, pleaded guilty to one count of bank fraud and one count of wire fraud.

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McQuaid admitted he defrauded Town Square Bank in Ashland to obtain a loan for $1 million in 2014.

McQuaid is scheduled to be sentenced for 10:00 am on November 12, 2019, in federal court in Ashland, Kentucky. He faces up to 30 years in prison and a maximum fine of $1,000,000.