Firm's President Charged With Forging Borrower Signatures

After allegedly preparing fraudulent notes by forging the signatures of borrowers, William Everett Nichols of Alexandria, Louisiana, has been indicted and arrested on federal fraud charges. According to Donald W. Washington, U.S. attorney for the Western District of Louisiana, the indictment alleges that Mr. Nichols, who is the president and sole shareholder of First Fidelity Mortgage Inc., knowingly and willfully conspired to devise a scheme to defraud Sabine State Bank and obtain money to which Mr. Nichols was not entitled. The defendant and others allegedly prepared fraudulent notes by forging signatures of borrowers and notaries public and delivered them to Sabine State Bank as collateral in order to cause the bank to deposit money into an account of First Fidelity Mortgage, which Mr. Nichols controlled. Mr. Nichols was unavailable for comment.