Third defendant in bank collapse pleads not guilty in GA

ATLANTA (AP) - The third defendant charged by prosecutors in the aftermath of a Georgia bank collapse has pleaded not guilty to charges of conspiracy, bank fraud, bribery and insider trading.

Forty-year-old Douglas Ballard was Integrity Bank's executive vice president before it collapsed in 2008. He was released Wednesday on a $200,000 bond after a brief initial appearance.

Prosecutors charged Ballard and former bank executive Joseph Todd Foster with overseeing tens of millions of dollars in failed loans to Guy Mitchell, a 50-year-old Florida developer.

They say Mitchell took out loans for construction and renovation projects but instead used them to buy an island and other purposes. Mitchell and Foster have also pleaded not guilty.

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