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Thu November 24, 2005
Jackson Banker Sentenced to Four Years
Laramie, Wy – A federal judge has sentenced the former
chief executive officer of the Bank of Jackson Hole to serve nearly four years in prison for fraudulently taking one-point-five million dollars from the bank.
U-S District Judge William Downes sentenced 54-year-old Ed Fisher to serve 46 months in prison and pay restitution of more than one-point-five million dollars.
Fisher pleaded guilty in August to a felony fraud charge that accused him of using cashier's checks to take more than nine hundred thousand dollars from the bank between October 1995 and August 2004.
Court documents state Fisher used the money for automobiles, mortgage payments on his personal residence and on trips to Hawaii, California, the Bahamas and Las Vegas.
In pronouncing sentence, Judge Downes said that trust is at the heart of the American banking institution. He said the proper sentence for Fisher would send the message to other bankers that there is a grave consequence for violating that consumer trust.