Four faced civil suit before fraud case
by D. LANCE LUNSFORD, Lubbock Avalanche-Journal, October 22, 2004
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Tom Darden, 48, former president of First State Bank-Lubbock.
• Conspiracy to commit bank fraud - one count.

• Bank fraud - one count.

• Making false statements to a bank - nine counts.

• Money laundering - 22 counts.

• Faces 725 years in jail; $20.5 million fine

Frank Thompson, 75, a cotton grower and owner of Thompson Commodities.

• Conspiracy to commit bank fraud - one count.

• Bank fraud - one count.

• Making false statements to a bank - 11 counts.

• Money laundering - 23 counts.

• Faces 805 years in jail; $23.2 million.

Rick Thompson, 52, is in business with his father, Frank, and is part owner of Thompson Commodities

• Conspiracy to commit bank fraud - one count.

• Bank fraud - one count.

• Making false statements to a bank - 10 counts.

• Money laundering - 23 counts.

• Faces 775 years in prison; $22 million fine.

Monte Hasie, 67, - investment banker with Paine Webber, former LISD trustee, and former State Board of Education member

• Conspiracy to commit bank fraud - one count.

• Bank fraud - one count.

• Making a false statement to a bank - 11 counts.

• Money laundering - 22 counts.

• Faces 795 years in jail; $23 million fine

Source: Office of U.S. Attorney Northern District of Texas

The federal criminal case against a local investment banker and three locally prominent businessmen is not the first accusation of wrongdoing related to the quartet's investment.

Tom Darden, Frank Thompson, Rick Thompson, and Monte Hasie - a former Lubbock Independent School District board trustee and former State Board of Education member - were indicted Wednesday by a federal grand jury on 38 counts for charges ranging from bank fraud to money laundering.

According to state court records, a 2002 civil case was filed and settled by First State Bank - now known as New First State Bank or State National Bank - against the four.

In addition to the settled civil case, a criminal investigation materialized at some point. While the suit against the four was settled between April 2002 and December 2002, part of the agreement made the settlement secret.

Darden, Hasie and the Thompsons were indicted on a variety of charges stemming from an alleged money-laundering scheme that took place throughout more than a year and a half.

Hasie, 67, an investment banker with UBS Paine Webber in Lubbock, is on administrative suspension, company officials said.

"Mr. Hasie was placed on administrative leave from the firm once we heard of the government's concern," company official Christine Walton said. "UBS has fully cooperated with the government's investigation and is considering this new information (the indictment)."

Hasie is represented by Fort Worth attorney Tim Evans.

"He will plead not guilty at his first opportunity and we are very optimistic that the jury will agree when they find out how little Mr. Hasie had to do with this matter," Evans said.

Darden, 48; Hasie; Frank Thompson, 75; and Rick Thompson, 52, were summoned Wednesday for an initial appearance to outline the 38-count indictment Nov. 15 before U.S. Magistrate Nancy Koenig.

Prosecutors allege a scheme of manipulation and funds transfers in an effort to cover a path and play catch up on a loan the Thompsons received from First State Bank.

When Darden first brought in the Thompsons as loan customers before April 1999, they presented 50,000 shares of Procter & Gamble stock as collateral. When the bank determined them as "problem loan customers," they made them sell 10,000 shares of the Procter & Gamble stock, yielding about $1 million in debt relief, according to court records.

The quartet then allegedly obtained margin loans on the Procter & Gamble stock - without indicating it as collateral for First State Bank - and moved those funds to the Thompson Commodities account held with Hasie's Paine Webber company.

Moving the funds to the Thompson Commodities account, say prosecutors, falsely represented the nature of the funds and their relationship to the Procter & Gamble stock as the group allegedly used the margin loans to purchase other stock.

"It was part of the scheme that Darden, the Thompsons, and Hasie repeatedly made false statements and representations and submitted false records to represent to the bank that the Procter & Gamble stock was being protected as collateral when it was not," said U.S. Attorney Richard B. Roper in his announcement of the indictment Wednesday.

The Thompsons, who own Thompson Commodities, Texcot Bleachery and South Plains Textiles, along with Hasie and Darden allegedly cost the bank about $2.5 million.

Hasie was long praised for his service to the community. Serving with the LISD for 12 years and the state board for 10, he was lauded for his service and staunch defense of the Permanent School Fund. He was appointed chairman of the state board in 1988 by then-Gov. Bill Clements.

Darden no longer works for First State Bank, which became State National Bank in August 2000.

lance.lunsford@lubockonline.com 766-8795

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