Lemons pleads guilty to money laundering and transporting stolen funds across state lines

United States Attorney Rebecca A. Gregory announced today that a 52-year-old former bank official has pleaded guilty to transporting stolen funds in the Eastern District of Texas.

Brent Steven Lemons, the former president of the Tyler Bank of America, admitted to transporting stolen funds across state lines and money laundering today before a US Magistrate judge.

According to information presented in court, Lemons abused his position at the Tyler of Bank of America by withdrawing $80,000.00 of an investor's funds without their knowledge, and transporting those funds to Louisiana in order to transfer them to Boyd Corporation, which is associated with Sam's Town Casino in Shreveport, Louisiana.

Lemons was indicted by a federal grand jury on March 4, 2008.  He faces up to 10 years in federal prison and a fine of up to $250,000.00 at sentencing.  A sentencing date has not been set.

This case has been investigated by the FBI and the IRS.

Cathryn Khalil / ckhalil@kltv.com