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Ex-BOS president still owes $5.6M in restitution
Aldan made $71K in payments; supervised release expiring on Nov. 25
Former Bank of Saipan president Tomas B. Aldan’s supervised release will expire this Nov. 25 and, although he has already paid $71,701 in restitution, he still owes a balance of $5.6 million.
U.S. Probation Officer Gregory F. Arriola informed the U.S. District Court for the NMI on Tuesday that Central District of California Probation Officer Ashley Ross has recommended to have Aldan’s term of supervised release expire without full payment of his restitution due to his ongoing compliance.
Arriola said he supports this but collection efforts will continue until Aldan’s supervised release and then he will be instructed to continue submitting payments after the expiration date.
In January 2004, then-U.S. District Court for the NMI Chief Judge Alex Munson slapped Aldan with a 10-year prison term over his conviction related to the Bank of Saipan fiasco.
Munson also ordered Aldan to pay $5.48 million to BOS and $209,980 to bank customer Michelle Hom, to be paid jointly with co-defendants Bert Douglas Montgomery and Michael T. Wilson.
Arriola disclosed that Aldan was released from custody on Nov. 25, 2012, and began his term of supervised release in the Central District of California.
Arriola said their office has been monitoring Aldan’s restitution payments as well as monitoring any changes that may affect his ability to pay.
The probation officer said Aldan has paid a total of $71,701.82 toward his restitution, leaving him with an outstanding balance of $5,622,101.88.
Arriola said probation officer Ross advised that Aldan’s income has remained stable and he has complied with complete financial disclosure, and all other terms of his supervision.
In 2003, a federal jury convicted Aldan and Montgomery of wire fraud and conspiracy to commit wire fraud. In addition, Montgomery was convicted of multiple wire fraud and money laundering.
Another defendant, DuSean Berkich, was convicted of wire fraud and money laundering.
Montgomery was meted with a 20-year prison term. Berkich reportedly killed himself before he could be sentenced.
Michael Wilson pleaded guilty to conspiracy to commit wire fraud and testified as a prosecution witness during the trial. He was sentenced to three years in prison.
The U.S. government charged Aldan with conspiracy in connection with his role in the fraudulent release of some $5 million in BOS loans to a Texas firm owned by Wilson. The wire fraud count against Aldan and Montgomery arose from transactions that defrauded BOS customer Michelle Hom.
