MORRIS BANNED FROM BANKING - Fined $5,000 By FDIC

(10/04/2003)

Former state School Board President J. D. Morris has been banned from the banking industry. Morris was the former president of the Clay County Bank, where he had worked for 50 years. He was also fined $5,000 by the Federal Deposit Insurance Corporation. Morris was sentenced in February to 18 months in federal prison for embezzling more than $100,000 from the Clay County Bank. He is serving his term at a federal prison in Ashland, Kentucky. The 67-year-old Clay resident resigned from the school board in October 2002 after the embezzlement allegations were revealed. He later pled guilty to one count of bank embezzlement. Authorities say he has made full restitution to the bank.

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