Former AnchorBank exec indicted

A federal grand jury has charged David Weimert, 63, of Madison with allegedly lying in order to defraud Investment Directions, Inc. (IDI), an AnchorBank subsidiary. Weimert, formerly a senior vice president in lending administration at AnchorBank, was also president of IDI, which was involved in the development of Chandler Creek, a Texas industrial park. Weimert reportedly made material misrepresentations as part of a scheme to defraud IDI so he could gain a minority interest in the park and collect a 4% commission fee. He was charged with six counts of wire fraud, each of which could carry a 30-year prison sentence. Weimert worked for AnchorBank from 1991 to 2009.