Facts presented in court established that Jeffcoat is an accountant who was producing false documentation in support of loan applications and giving that information to an Arthur State Bank loan officer. The officer than facilitated approvals for mortgages and other loans using the fake documents. Some of the loans were for Jeffcoats family members. Jeffcoat was involved in a total of six loans valued at $529,000. Several are still current. The value of the loss-to-date is approximately $45,000.
The United States Secret Service investigated the case. Assistant United States Attorney Winston D. Holliday, Jr., of the Columbia office prosecuted the case.
-- District of South Carolina
Source: U.S. Secret Service