Stephen Phillip Casher Sentenced For Multiple Crimes

Stephen Phillip Casher Sentenced For Multiple Crimes

Former Rocky Mountain Bank loan officer, Stephen Phillip Casher, sentenced to prison, fined for fraud, money laundering crimes

BILLINGS (STL.News) A former Rocky Mountain Bank loan officer who admitted to approving loans to a bank customer while at the same time profiting from private, undisclosed loans to the customer was sentenced to one year and one day in prison followed by three years of supervised release and fined $50,000, Acting U.S. Attorney Leif Johnson said.

Stephen Phillip Casher, 47, pleaded guilty on June 24, 2020 to bank fraud and to money laundering.  Casher was charged in a 14-count superseding indictment alleging bank fraud and related crimes.  A jury trial began on June 22, 2020. The prosecution and Casher reached a plea agreement during trial.

U.S. District Judge Susan P. Watters presided.  Judge Watters allowed Casher to self-report to prison.

The prosecution presented evidence that Casher worked as a market president for Rocky Mountain Bank (RMB) from about November 2011 until January 2017.  During that time, Casher was one of the people responsible for approving bank loans to Larry Price, Jr. or one of Price’s related companies.  Casher, along with several private investors, also made large, private, high interest loans to Price. 

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