A former Tyler businessman has pled guilty to bank fraud. Steve Glaspie defrauded Citizens State Bank of Tyler by not providing collatoral after purchasing inventory for his car company, Red Dot Sales.
This happened between July 1999 and July 2001. Glaspie could face up to 30 years in prison and a one million dollar fine.
A sentencing date has not yet been set.
Jennifer Brice, reporting.