Randy Gard Teall, a former loan officer for the $381 million Global Credit Union in Spokane, Wash., will be sentenced Dec. 15 after pleading guilty to bank fraud.

The 67-year-old Post Falls, Idaho man admitted in U.S. District Court in Coeur d' Alene, Idaho on Sept. 15 that he approved more than $83,000 in loans in which he held financial interests.

After his position was eliminated at the credit union's Coeur d' Alene-based branch, a sampling of Teall's loans were reviewed by Global CU managers, who uncovered the loan discrepancies.

Teall secured seven Global CU loans in 2007, 2008 and 2009. He admitted that he made false statements on loan documents that enabled him to get the loans approved for the borrowers. Teal did not inform his supervisors that he had a personal and business relationship with the borrowers, according to court documents.

In addition, he failed to disclose the true financial worth of the borrowers and all of the loans went into default, according to court documents.

A bank fraud charge is punishable by up to 30 years in prison, a maximum fine of $250,000 and up to five years of supervised release.