Former Zions Bank Employee Pleads Guilty to Bank Fraud

Former Zions Bank Employee Pleads Guilty to Bank Fraud

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SALT LAKE CITY (AP) -- A Spanish Fork man has admitted he tried to defraud his employer, Zions Bank, of nearly $200,000.

Gary Lyn Pinegar, 53, pleaded guilty Tuesday to two counts of bank fraud. He admitted to opening lines of credit in false names, including such prominent LDS names as Hinckley and Smith.

He faces up to 30 years in prison and a $1 million fine when he is sentenced March 23 in U.S. District Court.

Pinegar said he was a private banker for Zions, meaning he worked with customers with significant income and net worth. He admitted he abused his position of trust to facilitate and conceal the crimes.

Officials say the fraud started about Dec. 23, 1999, and continued through March 23, 2004.

(Copyright 2005 by The Associated Press. All Rights Reserved.)

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