MADISON (WKOW)-- A former Wisconsin banking executive from Mosinee is facing federal charges for misrepresenting financial activity.
The U.S. Attorney's office says 67-year-old Jeffrey Tiffany made a false statement to a financial institution involving an insurance premium financing program with Mason Insurance.
Tiffany was responsible for approving all insurance premium financing notes that River Valley Bank in Wausau received from Mason Insurance. Prosecutors allege that Tiffany knew a financing note from Hardswood Corp. was not legitimate, but still decided to represent it as a valid note.
The maximum penalty for a conviction is 30 years in federal prison and a $1 million fine. The investigation is being headed by the FBI.
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