Former president and CEO of First Community Bank of Hammond, La., and a fellow conspirator were sentenced to federal prison for bank fraud.
The Office of the Special Inspector General for the Troubled Asset Relief Program and United States Attorney for the Eastern District of Louisiana announced that former First Community Bank CEO Reginald R. Harper, age 59, a resident of Hammond, La., and real estate developer Troy A. Fouquet, 45, a resident of Covington, La., were convicted for conspiracy to commit bank fraud, according to a press release.
Harper was sentenced to 24 months in prison, followed by three years of supervised release and a $25,000 fine.
Additionally, Fouquet was sentenced to 18 months imprisonment, followed by three years of supervised release. Both were ordered to pay $571,000 in restitution to the victim.