Banker charged in fraudulent loan scheme

NAPLES — Former JP Morgan Chase Bank senior loan officer Ross Pickard, 63, of Naples, has been charged with one count of conspiracy and three counts of loan and credit application fraud.

Pickard, according to a statement from the U.S. Attorney's Office, conspired with others in a “scheme to defraud the bank by completing, certifying and submitting mortgage loan applications on behalf of borrowers that contained false and fraudulent statements.”

The false statements included false occupancy, over-inflated income and assets, as well as the understated liabilities, authorities allege. JP Morgan Chase funded loans for otherwise unqualified borrowers from Pickard's false and fraudulent statements on the loan applications, the U.S. Attorney's Office contends.

Pickard faces up to 5 years in federal prison for the conspiracy count and up to 30 years on each of the fraud counts if convicted.