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Associated Press, Published June 14 2012

Sister of ND bank executive charged in fraud case

BISMARCK, N.D. — The sister of a former North Dakota bank executive who admitted stealing nearly $800,000 from clients has been charged in the same case.

Ann Loran pleaded not guilty in federal court Thursday to conspiracy to commit bank fraud and money laundering.

Betty Kolling, a former trust officer at Bank of the West in Dickinson, and her husband, Walter Kolling, pleaded guilty earlier to conspiring to commit bank fraud. Betty Kolling is Loran's sister.

Authorities say the Kollings and Loran were part of a scheme to raid trust funds and in one case obtain lucrative mineral rights for a nominal fee.

Betty Kolling said at her plea hearing she began stealing to help Loran, who was caring for their ailing mother at the time.

Sentencing for the Kollings is Aug. 13.


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