Orion Bank's Williams indicted

Prosecutors unveiled a federal grand jury's indictment of Jerry Williams, 51, the former chairman, CEO and president of Orion Bank, charging him with bank fraud and deceiving state and federal bank examiners.

Before regulators shut it down in late fall 2009, Naples-based Orion was the second-largest bank headquartered on the Gulf Coast.

The grand jury indicted Williams on 13 counts, including bank fraud, misapplication of bank funds, making false bank entries, making false statements and wire and mail fraud. The indictment alleges that Williams orchestrated a complex scheme in 2009 to fraudulently raise capital and falsify bank records to mislead regulators as to the true financial condition of the bank.