Hardin County man convicted of bank fraud, conspiracy

HARDIN COUNTY, Tenn. —  A Hardin County man has been convicted of bank fraud involving three banks in Tennessee and Alabama.

According to a news release, 71-year-old Charles Ray Smith, of Crump, owned and operated several businesses in Tennessee, Alabama, and Louisiana. The release says Smith defrauded Crental Bank in Savannah by depositing and directing others to deposit more than $116 million in fraudulent checks into the bank account between March 2009 and February 2012.

The release says Smith also defrauded two banks, in Wayne County and in Muscle Shoals, Alabama, by falsifying collateral to obtain loans.

Smith was convicted of seven counts of bank fraud and conspiracy to commit bank fraud.

A sentencing hearing is scheduled for January 5. Smith faces up to 30 years in prison for each count of the indictment.