The developer who once co-owned McLemore Cove in Walker County, has been indicted on federal charges.
Edmond Cash was arrested along with former bank loan officer Michael Craig Brewster and LaDonna Barton on charges arising from an alleged scheme to defraud Brewster’s former employer, River City Bank in Rome.
Cash and Delos Yancey acquired the scenic farm from former owner Wayne Rollins. They divided some of the outlying property and sold some for mini-farms before selling the remainder to the State of Georgia and Walker County.
LaDonna Barton allegedly obtained a fraudulent loan from River City Bank. Ms. Barton’s loan application, with Cash’s assistance, was funneled through Brewster, who was a loan officer at the bank at the time. Due to his position at the bank, Brewster was able to push the loan application through for approval and ensure that his co-conspirators received their requested funds despite their loan application being filled with false statements, according to Federal prosecutors.
Brewster, of Huntsville, Alabama… Cash, of Rome… and Barton, of Menlo, were charged with bank fraud conspiracy, bank fraud, and making false statements in a loan application. All three were indicted by a federal grand jury on Wednesday.