RIVERSIDE, Iowa (KCRG) - A former eastern Iowa bank president is facing 11 counts of bank fraud, as well as identity theft and wire fraud, after he allegedly used a credit card in the bank's name and diverted funds from loans of bank customers for his own use.
According to court documents, Christopher Goerdt worked for Peoples Trust and Savings Bank and was appointed as its president in 2012 before resigning in 2015. He primarily worked out of the branch in Riverside, Iowa.
Peoples Trust and Savings Bank was unavailable to comment on the case.
The court papers allege Goerdt used a Visa credit card under the bank's name for nearly $90,000 in personal and unauthorized business expenses. He then used funds from customers' loan payments to pay off the debt on the credit card, as well as for his own personal use.
He also faces two counts of identity theft, according to the charging documents.
Also included in the indictment filed May 8 are two counts of wire fraud and a count of misapplication by a bank officer in which Goerdt took more than $2,200 from a customer's account while working at County Bank in Williamsburg.
County Bank declined to comment on the case or whether Goerdt was still employed there.
Click here to read the full complaint.