Southeastern Farm Broker Owner Indicted for Fraud & Bribery
Wednesday, January 25th, 2012
Wiley Jordan, owner of Southeastern Farm Broker, has been indicted for fraud and bribery. He is charged with five counts of fraud in a loan and bribery scheme that also involved a former loan officer at Southwest Georgia Farm Credit in Bainbridge.
The indictment accuses Jordan of borrowing $3.4 million from June 2007 to January 2008. It also states that he and a former Farm Credit Loan Officer, Larry Malone, teamed up to fraudulently divert money from Southwest Georgia Farm Credit.
Malone has plead guilty to federal charges of conspiracy to commit bank fraud and receipt of gifts or commissions for procuring a loan in October and is not named in the indictment. Prosecutors allege Malone would approve huge loans for Jordan, then Jordan would pay him off.
The indictment says Jordan would typically receive large loans from Southwest Georgia Farm Credit, some as large as $200,000, then pay Malone $25,000. From February to September of 2007, the Farm Credit also paid Jordan $36,500 for referring new borrows.
If convicted, Jordan could face a maximum of 30 years in prison.
Jordan pleaded guilty and was fined in 2000 for poisoning chicken eggs to control the quail population at Ecila Plantation in Dougherty County.