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Trial date is set for Hiers

Hiers is accused of one count of conspiracy to defraud The Bank, also doing business as C&L Bank, in Bristol, and nine counts of making false entries into the books and records of the bank. The indictment alleges that between 1999 and 2004, Hiers, a bank officer, conspired with others to conceal the true financial picture of the bank from bank examiners and the bank’s own management. Hiers is alleged to have made loans and extensions of credit to borrowers who were unable to repay, and that he attempted, through a variety of means, to conceal the borrowers’ actual indebtedness from bank examiners. The allegations include charges that Hiers falsified borrowers’ financial statements, that he made loans to third parties for the purpose of paying off the loans of other borrowers, and that he made false statements in response to audit questions of a bank employee examining existing loans. Hiers was initially scheduled to go on trial last month, but the case was continued. A status meeting was held last Tuesday, leading to the new court date.

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