(WTVA) - The former vice-president of a Saltillo bank has been indicted on allegations he wrote false loans and used the money for his personal use.
An eight-count federal indictment has been handed down against Max Miller.
The indictment says Miller, 53, wrote business loans to James R. Nichols of Baldwyn knowing Nichols was using the money for personal reasons.
Court records say he wrote loans totaling nearly $723,000 under other people's names to purchase wreckers, land, buildings and for working capital.
The indictment says the scheme ran from 2012 to 2014 and unraveled when Nichols failed to pay back the loans.
Miller, who worked for Renasant Bank in Saltillo, also is accused of writing loans under other names for his personal use.
The indictment says the total amount of those loans was $146,000.
Miller pleaded not guilty to the charges Monday in U. S. District Court in Oxford and was released on a $10,000 bond.
Nichols made an initial appearance in court and is currently free on a $10,000 bond.
His arraignment is set for Thursday in Oxford.