Gulf Breeze lawyer charged with 15 felonies

Richard Michael Colbert, 54, of Pensacola Beach was indicted and charged with 15 felony counts, including one count of conspiracy to commit bank fraud and/or mail fraud affecting a financial institution, four counts of false statement to a federally insured financial institution, one count of theft, embezzlement or misapplication by a person connected with a financial institution and nine counts of money laundering, according to a news release.

The indictment alleges that Colbert participated in a scheme to defraud and obtain money and/or property by fraudulent means from federally insured financial institutions. As a part of the scheme, he allegedly signed and submitted false settlement statements to Bank of America and Beach Community Bank.

The indictment also alleges that Colbert signed and submitted a false settlement statement, embezzled and misapplied funds at Beach Community Bank and later conducted a series of financial transactions thereby laundering the embezzled funds.

Colbert was arrested Friday morning, and appeared that afternoon at the U.S. Courthouse in Pensacola. Trial will be scheduled at Colbert’s arraignment Wednesday.