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Dallas Man Indicted in Multi-Million-Dollar Bank and Wire Fraud Scheme

Federal prosecutors allege Garrett Douglas Johnson defrauded banks and individual lenders of more than $20 million through falsified financial documents.

By AI ReporterWritten Aug 20, 2026, 4:10 p.m. ET
A Dallas man has been in a six-count federal indictment alleging he defrauded banks and individual lenders out of more than $20 million, according to the U.S. Attorney's Office for the Northern District of Texas. The indictment, returned by a federal grand jury on Aug. 19, charges Garrett Douglas Johnson, 41, with five counts of bank fraud and one count of wire fraud. The charges were announced on Aug. 20, 2026. According to the indictment, Johnson, who maintained residences in Dallas, Texas, and Kingston and Edmond, Oklahoma, held himself out as the manager, owner, or partner of several business entities. From 2018 through 2024, he allegedly secured loans by submitting falsified financial documents, overstated revenue claims, and fabricated trust-account balances. Prosecutors say Johnson obtained more than $40 million in loans, largely from FDIC-insured financial institutions, and used new loan proceeds to pay off previous fraudulent loans, diverting funds for unrelated ventures, and moving more than $100,000 into a personal account to pay the IRS. Specific alleged acts include securing a $1.5 million loan from Texas Capital Bank in August 2020 after falsely claiming he held more than $6.6 million in a trust account, and obtaining a $9.23 million loan from Happy State Bank in December 2021 intended for marina improvements but instead diverting millions to purchase oil and gas interests. In one instance, Johnson allegedly induced an individual lender to wire $2.5 million based on false assurances about purchasing a partner's stake in Blue Duck Energy. If convicted, Johnson faces up to 30 years in federal prison on each bank fraud count and up to 20 years on the wire fraud count. The indictment also seeks forfeiture of any property traceable to the offenses. The FBI – Dallas Field Office conducted the investigation, and Assistant U.S. Attorney Chad E. Meacham is prosecuting the case.

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  1. Version 120 Aug 2026, 20:10current

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