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The former president of an Illinois bank has acknowledged his involvement in a scheme to falsify bank records to enable real estate loans.

Steven Cook pleaded guilty in U.S. District Court in Benton to three felony counts of aiding and abetting the making of a false bank entry. Cook was the president of SouthernTrust Bank when he fraudulently facilitated three different sales of real estate to Lawler and Maze Properties LLC in 2022.

In one transaction, Cook approved a loan that funded the sale of seven commercial rental properties from Results Home Buyers 2 to Lawler and Maze, but Cook and the others agreed to fraudulently make it appear the loan was a refinancing, with the bank backdating documents to pretend the buyer purchased the properties for a falsely inflated price of $545,152. The documents also falsely indicated that the bank was refinancing 80% of that loan, with the buyers bringing 20% in cash to the sale. However, the real sales price for the properties was $436,122 and the buyers did not bring any cash to the transaction.

Results Home Buyers 2 is partially owned by former Williamson County State’s Attorney Brandon Zanotti, who was sentenced in May to two years of probation, a $5,000 fine and 20 hours of community service for his role in the scheme.

In a second transaction, Cook helped Lawler and Maze acquire four properties, with the stakeholders falsely presenting the sales price of $413,000 instead of the actual price of $330,400; the loan paperwork falsely stated that the buyer would supply $82,600 in cash.

In a third deal, Cook facilitated an additional loan to Lawler and Maze with documents that falsely stated the borrowers would supply $21,500 cash. Cook was aware that the false loan details were presented to the bank board for approval.

Cook’s sentencing hearing has been set for Sept. 19. Lawler and Maze is owned by Justin Maze and David Lawler, who entered into a pretrial diversion program in which they acknowledged their involvement in the fraudulent activities. As a condition of pretrial diversion, Maze was required to resign from his position as Williamson County Circuit Clerk and agreed not to seek re-election to any public office. Lawler’s conduct was reported to the Illinois Attorney Registration and Disciplinary Commission.

“The lack of professional responsibility demonstrated by Steven Cook diminishes the faith consumers place in the banking process,” said FBI Springfield Field Office Acting Special Agent in Charge Shannon Fontenot. “Financial fraud is a serious crime with serious consequences and the FBI will investigate anyone who takes advantage of their trusted position of employment for their own personal gain.”

Photo of Steven Cook courtesy of SouthernTrust Bank