2 former execs admit swindling Dallas bank out of $1.2M for lavish vacations

Midway through their trial, two former Dallas bank executives have admitted their roles in a $1.2 million reimbursement scam to pay for lavish vacations.

Terence Carlyle Smith, 62, and Nancy B. Parker, 66, each pleaded guilty to one count of conspiracy to make false statements to a Federal Home Loan Bank.

Smith, the former president of the bank's Dallas branch, entered his plea Friday; Parker, the former chief information officer, did so Tuesday. The government-sponsored bank supports mortgage lending and helps provide credit and financial services to families and businesses.

Between 2009 to 2013, the pair submitted dozens of false expense reports, saying they had been at professional conferences, authorities said.

Read more: https://www.dallasnews.com/news/courts/2019/07/23/2-former-execs-admit-swindling-dallas-bank-12m-lavish-vacations