Former First NBC Bank attorney charged with defrauding bank

First NBC Bank’s former attorney was charged in federal court Friday with conspiracy to defraud the local bank, which failed in 2017.

Gregory St. Angelo worked as the general counsel for First NBC from 2006 through fall of 2016. St. Angelo is accused of conspiring with two former bank officials, identified as “Bank President A” and “Bank Officer B” in court documents, to defraud the bank through various “false and fraudulent pretenses.”

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Bank President A refers to First NBC founder Ashton Ryan Jr. and Bank Officer B refers to former Chief Credit Officer Bill Burnell. Neither of them have been charged with any crimes in relation to this investigation.

According to a release from the DOJ, St. Angelo had obtained nearly $56 million in loans and other advances by the time the bank failed.

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St. Angelo is the first former bank employee to be charged after the collapse.

Previously, Jeffrey Dunlap, a Slidell-based contractor, plead guilty to federal bank fraud charges for his involvement in the bank’s failure.

St. Angelo faces up to 30 years in prison.