LaGrange Businessman Charged with Theft by Taking

May 16, 2008

LAGRANGE – As result of an investigation requested by Coweta Judicial Circuit District Attorney Pete Skandalakis and the Georgia Secretary of State, a LaGrange businessman has been charged by the GBI with Theft by Taking.  

Randy Wesley Banks, 41, President of Banks Financial in LaGrange, turned himself in to the GBI at the Troup County Sheriff’s Office yesterday at 2:00pm after the GBI investigation revealed that he had embezzled between 8 and 9 million dollars from investors over the past 3 years.  Banks led investors to believe he would invest their money in bonds which would provide a 20% return. Those bonds did not exist.  The GBI estimates that 35 to 40 people were victims of this scheme.

The GBI is asking that if anyone had invested with Banks Financial over the past 4 or 5 years, that they contact the GBI Regional Office in Greenville at 706-672-3302.    

The investigation into this matter is continuing. A bond hearing for Banks is scheduled for Tuesday.

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Contact Information: 
John Bankhead