Former Bank Official From Oakton Guilty Of Fraud

OAKTON, VA—A former bank vice president from Oakton pleaded guilty Thursday to fraud and identity theft charges relating to his time at Virginia Commerce Bank and Fulton Bank. The government believes Marsh's actions resulted in $3 million in losses.

Prosecutors say that Kirk Russel Marsh, 39, forged signatures of top VCB officials to fraudulently issue $1.25 million in loans to small businesses.

At Fulton Bank, he used a former client's personal information to receive $1 million line of credit, which he used to purchase Wave Software, another client’s software company, and make the down payment on his house. He also used another client's line of credit to make $485,000 in purchases for Wave Software.

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After Fulton Bank fired Marsh, he pretended to buy Revive You Media, a beauty products company, in attempts to secure financing. He used personal information of former clients and family members to try and secure financing.

Marsh pleaded guilty to wire fraud, bank fraud, and aggravated identity theft. He up to 30 years in prison and will be sentenced Nov. 17.

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