Panhandle Lawyer Indicted on 15 Counts of Bank Fraud

Posted at 10:33 PM, Jun 20, 2015
and last updated 2015-06-20 22:33:00-04

PENSACOLA, Fla. (AP) - A 54-year-old lawyer from Pensacola Beach has been charged with felony bank fraud charges.

Richard Michael Colbert arrested Friday and appeared at the U.S Courthouse in Pensacola where he was charged with 15 felony counts.

The Pensacola News Journal ( reports the charges include conspiracy to commit bank fraud and/or mail fraud affecting a financial institution, false statement to a federally insured financial institution, theft, embezzlement or misapplication by a person connected with a financial institution and money laundering.

The indictment says Colbert participated in a scheme to defraud and obtain money and/or property from federally insured financial institutions. He's accused of signing and submitting false settlement statements to Bank of America and Beach Community Bank.

He will be arraigned Wednesday. It's not known whether he's hired a lawyer.