Michelle Smith
James Stevens, the former commercial lender who pleaded guilty to bank fraud at Primis Bank, is awaiting sentencing after a delay. Originally set for last Thursday, the sentencing has been rescheduled for June 13 due to a scheduling conflict in court.
The sentencing guidelines suggest Stevens could face between 51 to 63 months in prison, with the U.S. Attorney’s Office recommending a 60-month term. Prosecutors argue that aggravating factors, including the length and scope of his criminal activity, warrant a harsher sentence.
Stevens initiated his fraudulent scheme in 2008 with a loan to an unqualified bank customer, continuing for 15 years. During this time, he issued over three dozen fraudulent loans, created fake documents, and misused customers’ personal information. Notably, he exploited a personal relationship to siphon more than $97,000 from a victim’s accounts.
Prosecutors stress that Stevens’ actions were premeditated, stating he could have stopped at any point but chose to persist in his criminal activities, which ultimately cost Primis Bank over $2.4 million. They emphasize that his crimes were not motivated by desperation or financial hardship but rather a calculated pursuit of profit.
In defense, Stevens claims his intent to help the community led him to make loans to a man with a troubled history. He argues that threats from this individual pressured him into a cycle of fraud to cover previous loans.
Stevens’ childhood experiences of abuse are also presented as a factor influencing his actions, although prosecutors remain skeptical of this explanation. His defense paints him as a man who has lost everything and has accepted responsibility, seeking a lighter sentence of 42 months along with treatment for addiction and mental health issues.
As Stevens awaits sentencing, the court must weigh the severity of his actions against his claims of personal hardship and community contributions.