04/11/2025

Former Bank of O’Fallon executive indicted for $2 million fraud scheme

United States Attorney's Office District of Illinois

EAST ST. LOUIS, Ill. – A federal grand jury in southern Illinois charged the former second-in-command of the Bank of O’Fallon for engaging in a fraud scheme to obtain more than $2 million.

Andrew P. Blassie, 69, of St. Louis, is facing one count of bank fraud and one count of interstate transportation of security or funds obtained by fraud.

“Senior bank officials must act as fiduciaries, not felons—they must serve the bank, not swindle it,” said U.S. Attorney Steven D. Weinhoeft. “The federal justice system leads the fight against corruption in all its forms, and the allegations in this case—a $2 million check kiting scheme and a $500,000 investor rip-off—are glaring examples of the type of financial betrayal that will not be tolerated. We commend the Bank of O’Fallon for their cooperation with the investigation, which has been vital to ensuring both that justice is served, and that the integrity of the financial system is preserved.”

According to the indictment, Blassie served as the Executive Vice President for the Bank of O’Fallon and is charged with defrauding the bank out of $1,972,887.67 in a check kite scheme from September 2023 through September 2024 during his employment.