JEFFERSON COUNTY, Texas — A Nome man has been sentenced to nearly five years in federal prison and ordered to pay over $2 million in restitution for his role in a bank fraud conspiracy involving fraudulent tractor purchases and unauthorized loans, federal prosecutors announced Thursday.
Eulice Emerson Alvey, also known as Trey, 50, pleaded guilty to conspiracy to commit bank fraud and was sentenced to more than 4 years in federal prison by U.S. District Judge Marcia A. Crone on June 5. Alvey was also ordered to pay $2,075,458.57 in restitution.
The scheme came to light in September 2018, when a member of Neches Federal Credit Union (NFCU) reported loans on their account they had not requested. Similar complaints followed in the weeks after, eventually involving up to 30 NFCU members, all