ALABAMA — The Northern District of Alabama – Eastern Division announced that Utitofon Ubom and Royneka Hicks have been indicted on charges of conspiracy to commit bank fraud and bank fraud.
The indictment alleges that from August 2022 to November 2024, the duo defrauded federally insured financial institutions by submitting loan applications with false information. The scheme reportedly involved misrepresenting social security numbers, providing fake serial numbers for heavy equipment used as collateral, and submitting fraudulent documents, including tax records and invoices.
Investigators say Ubom and Hicks concealed the true nature of transactions, often using family members as registered agents for purported sellers of equipment. Once loan proceeds were transferred, Ubom, Hicks, or their relatives allegedly diverted funds for personal use.
Specific instances of the alleged fraud involve loans from Metro Bank, Noble Bank & Trust, Cadence Bank, The Southern Bank, Community Bank, Southern States Bank, and CB&S Bank, ranging from $45,000 to over $356,000. Ubom also faces charges for making false statements to Metro Bank, including submitting a fake social security number and collateral invoice.
The charges against the pair include conspiracy to commit bank fraud, bank fraud, making false statements to federally insured institutions, aggravated identity theft, and unlawful monetary transactions involving criminally derived property exceeding $10,000. Hicks is additionally accused of making a false statement to First Bank of Alabama for a loan application totaling approximately $188,000.
Upon conviction, Ubom and Hicks could forfeit property linked to the offenses, including real estate in Lincoln, Alabama, and face a money judgment of at least $1.7 million.
