BISMARCK (KFGO) – A former North Dakota bank president was sentenced Wednesday for bank fraud.
U.S. District Judge Daniel Traynor sentenced 35-year-old Brady Torgerson of Beulah to two years in federal prison, three years of supervised release, and a $200 special assessment.
Torgerson was indicted by a federal grand jury late last year and he pleaded guilty to two separate counts of bank fraud.
Between 2019 and 2021, while working at separate times as President of First Security Bank-West and as a loan officer at the Union State Bank, both in Beulah, he improperly issued loans, issued funds to people not entitled to funds, and entered false information into the bank’s computer system.
Co-defendants in the case, Brent Torgerson, 61, and Kelly Huffman, 34, both of Beulah, were sentenced to time served, one year of supervised release, and a $5,000 fine on charges of misapplication of bank funds.
