Magazine article American Banker

Secretary Testifies against Patterson: Says Some Loans Paid with Funds from Other Customer's Account

Magazine article American Banker

Secretary Testifies against Patterson: Says Some Loans Paid with Funds from Other Customer's Account

Article excerpt

OKLAHOMA CITY -- A former secretary for energy lending officer William G. Patterson testified Thursday that Mr. Patterson told her to pay off debts of one oil man using funds from another's account at Penn Square Bank.

Charmane Wright told a federal court jury in Mr. Patterson's bank fraud trial here that her boss told her to take funds from the account of Oklahoma City oilman Joe Dan Trigg and, using a means that would be difficult to trace, pay off loans made to Ken Tureaud, another oil company owner.

Her testimony came in the fourth day of Mr. Patterson's trial in U.S. District Court for the western district of Oklahoma. Mr. Patterson, 35, was vice president and chief energy lending officer at Penn Square, which collapsed July 5, 1982.

According to Miss Wright's testimony, she followed Mr. Patterson's instructions and paid overdrafts of Mr. tureaud from Mr. Trigg's account. At one point, Miss Wright said, she overheard Mr. Patterson say that Mr. Trigg was a partner with Mr. tureaud and didn't even know it. Mr. Patterson then laughed and then walked away.

Mr. Tureaud is the owner of Saket Petroleum Co. and River Ridge Petroleum Co. When questions were raised about Mr. Tureaud's account, she said, debit and credit slips were never sent to Mr. Tureaud. They were still on another secretary's desk when the bank was closed July 5, 1982.

In other testimony, a Northern Trust Co. officer said he was surprised to learn that a $2. …

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