BISMARCK, N.D. (KXNET) — A man who was charged with illegal bank activity in North Dakota is changing his plea.
Brady Torgerson was in federal court in Bismarck on Tuesday to plead guilty to two counts of bank fraud.
The crimes happened while Torgerson formerly worked for a bank in Beulah and prosecutors say he had help from two other people.
Torgerson is accused of issuing loans without getting a promissory note and for not entering loan information into the bank’s computers.
He also issued 20 bank money orders without crediting or funding the transactions which led to an overdraft of more than $724,558 in the bank’s ledger account.
By pleading to the charges, Torgerson will avoid a trial, but could be sentenced to jail time and may have to pay more than $450,000 in restitution to victims in the case.
Torgerson has already been banned from working for any financial company that’s licensed by the state.
Torgerson and his attorneys are expected back in court for sentencing in November.