Guilty plea expected in bank fraud case
ROCKFORD – A Sterling man accused of federal bank fraud is expected to change his plea to guilty Tuesday in U.S. District Court.
Lyle J. Spaulding’s March 22 hearing was rescheduled at the request of his attorney, a spokesman at the U.S. Attorney’s office said.
Spaulding, 44, defrauded Freedom Bank in Rock Falls and Sterling between 2007 and 2009; UnionBank in Tampico between 2006 and 2007; and BMO Harris Bank (then Amcore Bank) in Sterling in 2005, prosecutors say.
They did not disclose how much money he may have garnered.
Spaulding was senior vice president of commercial lending at Freedom Bank, a vice president and senior commercial relationship manager at UnionBank, and a vice president at Amcore.
He faces up to 30 years in prison and a fine of up to $1 million.