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COLORADO SPRINGS — A federal grand jury in Denver has indicted two Colorado Springs men – one an executive with a Pueblo bank and the other a borrower – for allegedly making fraudulent loans and accepting nearly $40,000 in kickbacks.
Christopher Tumbaga, a loan officer for Colorado East Bank and Trust, faces seven counts of bank fraud, 11 counts of illegally receiving kickbacks for making loans and one count of embezzlement from a bank. Brian Headle, the borrower, faces seven counts of bank fraud and 11 counts of giving the kickbacks to Tumbaga.
Both have pleaded not guilty.
