Former Loggins CEO sentenced to prison, ordered to repay $2.7M

Former Loggins CEO sentenced to prison, ordered to repay $2.7M

POSTED: Wednesday, July 23, 2014 - 10:35am

UPDATED: Friday, August 1, 2014 - 10:26am

The former president and CEO of a prominent Tyler business was sentenced to prison Tuesday for providing fraudulent loan applications.

Bobby Gene Loggins, 60, of Tyler, pleaded guilty on Dec. 5, 2013, to making false statements to a bank and was sentenced to 51 months in federal prison, according to U.S. Attorney John M. Bales. He was also ordered to repay $2,773,371.52.

According to court documents, Loggins had been affiliated with Loggins Meat Company (LMC) in Tyler for more than 30 years. During the majority of this time, Loggins served as president and CEO of the business. The company was founded in 1940 by Loggins’ father and operates as a wholesaler, retailer, and processor of meat and meat products.

In March 2009, Loggins applied to Bank of Tyler for a revolving line of credit. In connection with the loan application, Loggins gave fraudulent financial information for LMC. Following approval of the loan, Loggins continued to provide false financial data when seeking advances on the credit line. Ultimately, LMC ceased operations in about August 2010.

This case was investigated by the FBI and prosecuted by Assistant U.S. Attorney Frank Coan.  

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Bobby is 58 not 60. We just had our 40th REL Class of 1974 reunion.

It is about time something happen to him he took from a lot of people he needs to be look at for what him and his wife did in Lufkin Texas he need 30 or mor years and so dose his wife

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