Orion bankers sing in Jerry Williams case

The case against former Orion Bank Chairman, President and CEO Jerry Williams got a little tighter for prosecutors recently.

U.S. District Judge Charlene Honeywell sentenced two Orion executives and a borrower to prison after they pleaded guilty to misleading federal and state banking regulators to the condition of the Naples-based bank before it was shut down.

When regulators shut it down in fall 2009, Orion was the second-largest bank headquartered on the Gulf Coast by assets. Most of the bank's assets and deposits were sold to IberiaBank of Lafayette, La.

A federal grand jury indicted Williams in March alleging 13 counts including bank fraud. Prosecutors accused Williams of scheming to fraudulently raise capital and falsify bank records to mislead regulators.

The two former Orion executives who pleaded guilty, Thomas Hebble and Angel Guerzon, and borrower Francesco Mileto, will likely be key witnesses in Williams' trial early next year.