McCormack Makes Initial Appearance in Court, Makes Bond
By
WBBJ 7 Eyewitness News Staff
By
news@wbbjtv.com
Story Created:
Mar 19, 2013 at 11:14 PM CDT
Story Updated:
Mar 19, 2013 at 11:16 PM CDT
JACKSON, Tenn.- Former Jackson attorney Clay McCormack made his first court appearance, Tuesday in federal court, where cameras were not allowed.
McCormack has been indicted by a Federal grand jury on two counts of bank fraud and two counts of making false statements.
McCormack entered a not guilty plea and was released on a $10,000 bond. According to the indictment the U.S Government wants McCormack to repay $3.8 million dollars. That is the amount he is accused of defrauding local banks.
His lawyer told WBBJ 7 Eyewitness News he will not try this case in the media.
"We will look at the charges and see if he possibly committed a technical breach. We don't believe he did that at this point," said Dan Warlick, Clay McCormack's attorney. "A pretty complicated matter involving multiple bank loans and multiple parties who are not indicted."
If convicted on all four counts, McCormack could face up to 70 years in federal prison. His next court date has not been set.
