A federal judge will sentence Hall sometime Thursday
Hall used an aircraft as collateral for multiple loans
ALBANY, GA (WALB) -
On May 9th, we'll find out if an Albany man will face prison time and a hefty fine after he robbed several southwest Georgia banks of almost $3 million.
You might remember the story about a licensed aircraft broker and former Marine who stole tens of millions of dollars from seven different banks in southwest Georgia.
Back in December, 63-year-old Carrollton-native Sidney Hall pled guilty to bank fraud and aggravated identity theft after the FBI found about a long-time scam he was conducting throughout Georgia.
Hall was formerly the owner and proprietor of "Sid Hall Enterprises" and during that time he fraudulently obtained 70 loans worth $2.8-million from seven banks to buy an airplane, and failed to repay nearly all the money.
According to his plea agreement, Hall forged the signature of a bank officer and convinced several banks that they were lending him money for an aircraft that had already been used as collateral for other loans.
Hall's charge of bank fraud carries a maximum of 30 years in prison, a $1 million fine, and five years of supervised release.
One top of that, the aggravated identity theft change carries a mandatory minimum of two years prison time, a $250,000 fine, and one year of supervised release.