Janska award continues winning streak for small Colorado Springs businesses

Jan Erickson

A Colorado Springs man who worked at a Pueblo bank pleaded guilty Monday to charges of bank fraud and illegally receiving kickbacks for making loans to a high school friend.

Christopher Tumbaga, who was a loan officer at Colorado East Bank and Trust,made the plea as part of an agreement with federal prosecutors in which he agreed to cooperate in the case. Tumbaga is scheduled to be sentenced Sept. 30; he faces up to 30 years in prison, fines of up to $1 million, supervised release for up to five years and restitution on each of the two counts.

Tumbaga's friend, Brian Headle, is scheduled to be tried Sept. 15 on seven counts of bank fraud and 11 counts of giving the kickbacks to Tumbaga.

Headle allegedly paid Tumbaga $60,000 in kickbacks between March 2009 and July 2011 to approvenearly $1 million in loans. The loans were made in the names of Headle's wife, parents, stepparents and other relatives using forged paperwork and false financial statements and other documentation, according to the plea agreement. The loans all went to Investment One, a business owned by Headle that bought, fixed up and resold property, the agreement said.

The bank is based in Lamar and operates offices in Pueblo and downtown Colorado Springs.


Contact Wayne Heilman: 636-0234

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