Jefferson County man sentenced to federal prison, ordered to pay over $2M in restitution for bank fraud conspiracy

BEAUMONT, Texas – A Nome, Texas man has been sentenced to federal prison and ordered to pay over $2 million in restitution for his role in a bank fraud conspiracy in the Eastern District of Texas, announced Acting U.S. Attorney Jay R. Combs.

Eulice Emerson Alvey, also known as Trey, 50, pleaded guilty to conspiracy to commit bank fraud and was sentenced to 57 months in federal prison by U.S. District Judge Marcia A. Crone on June 5, 2025. Judge Crone also ordered Alvey to pay restitution in the amount of $2,075,458.57.

According to information presented in court, on September 6, 2018, a Neches Federal Credit Union (NFCU) member contacted the credit union and reported there were loans reflected on their account that they did not request. Shortly thereafter, another member notified the credit union that they also had loans on their account that were not theirs. This type of notification then became common over the next few weeks, involving as many as 30 members, all associated with Billy Ray Thomas, an assistant branch manager for NFCU. An investigation revealed Thomas was working with Alvey to commit bank fraud. Alvey would fabricate fraudulent purchase invoices for tractors from his business, Oil City Tractor, LLC, and send the invoices to Thomas. Thomas would then use credit union members' information to request a loan. Once the loan was approved, Thomas would share the proceeds with Alvey and they would use the money for personal and business ventures. In April 2025, Thomas was sentenced to 34 months in federal prison.

This case is being investigated by FBI's Beaumont Field Office and the Beaumont Police Department. This case is being prosecuted by Assistant U.S. Attorney Reynaldo P. Morin.

The post Jefferson County man sentenced to federal prison, ordered to pay over $2M in restitution for bank fraud conspiracy appeared first on Port Arthur News.