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Banker from Mosinee charged in federal court

Updated: Saturday, 15 Dec 2012, 12:12 PM CST
Published : Saturday, 15 Dec 2012, 12:12 PM CST

MADISON, Wis. (AP) - A former banking executive from Mosinee is facing federal charges.

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. At River Valley Bank in Wausau, Tiffany was responsible for approving all insurance premium financing notes from Mason Insurance.

Prosecutors allege Tiffany knew a financing note from Hardswood Corp. was not a legitimate note but represented it as such.

The maximum penalty for a conviction is 30 years in federal prison and a $1 million fine.

The investigation was headed by the FBI. Tiffany did not immediate return a phone message seeking comment.