A former president of a Riverside-based bank was recently sentenced to 69 months in federal prison.

Forty-year-old Christopher Michael Goerdt of Cedar Rapids was convicted of  Bank Fraud, Aggravated Identity Theft, Wire Fraud and Misapplication by Bank Officer, according to Acting U.S. Attorney for the Southern District of Iowa Richard D. Westphal.

The investigation began as early as 2006 when it’s purported that Goerdt participated in fraudulent activities at multiple institutions. He obtained and used a credit card in the name of a bank for his personal use, falsified loan documents, diverted loan proceeds, altered appraisals, made false statements to investigators and obtained loans without the knowledge of customers. The Court found that nearly $900,000 was lost by the financial institutions due to the actions Goerdt pled guilty to. He worked with People’s Trust and Savings Bank in Riverside from 2012 to late 2015, serving in the roles of President, Chief Executive Officer and member of the board of directors. He was the sole loan officer and primarily worked out of the Riverside office. He obtained a credit card in the bank’s name for his personal use and charged more than $89,000 to the card over three year’s time. He also diverted loan proceeds from bank customers to make payments on the card.

Goerdt must also serve five years of supervised release after his prison term, pay $1,500 to the Crime Victims Fund and $1.1 million in restitution to the victims of his crimes.