Baton Rouge Man Pleads Guilty To Bank Fraud

Tuesday 38 year old Joe Lee Colbert Jr. of Baton Rouge pleaded guilty to one count of conspiracy to commit bank fraud. According to evidence presented, Colbert and bank branch manager 36 year old Deirdre Christophe Nelson, conspired to steal more than $305,000 from a Natchitoches bank. Nelson would steal cash money and issue money orders from the bank to be deposited into Colbert’s account. Nelson and bank teller Valerie K. Culpepper falsified bank records in order to hide the money that was stolen. Colbert faces up to 30 years in prison, five years of supervised release, a $1 million fine, forfeiture and restitution. Nelson pleaded guilty on September 10, 2015 to one count of conspiracy to commit bank fraud. She faces up to 30 years in prison, five years supervised release, a $1 million fine and restitution. Culpepper pleaded guilty on July 17, 2015 to one count of conspiracy to make false statements in bank records. She faces up to five years in prison, three years of supervised release, a $250,000 fine and restitution.