Bankers' motion for new trial denied

PANAMA CITY — A judge has denied a request for a new trial of three bankers who defrauded the federal government of millions in taxpayer dollars.

The trio filed the motions mere weeks before being sentenced, according to court documents.

Terry Dubose, Elwood West and Frank Baker were found guilty of conspiracy to commit wire fraud against the Federal Deposit Insurance Corporation (FDIC), seven counts of wire fraud, three counts of lying to the FDIC and aiding and abetting a false claim against the United States. Dubose and West were executives with Coastal, and Baker was the company’s attorney and largest shareholder.

Each of the men filed a motion asking for a retrial, which Judge Richard Smoak denied Tuesday.

Sentencing for the three is scheduled for Aug. 21.