Former Bank Of O'Fallon Executive Sentenced To More Than Five Years In Prison
Authorities detail how Andrew Blassie manipulated multiple accounts, defrauding nearly $2 million and concealing fraudulent activity internally.
EAST ST. LOUIS — A former executive of the Bank of O’Fallon was sentenced to more than five years in federal prison after pleading guilty to charges related to a $2 million check kiting fraud scheme, the U.S. Attorney Steven D. Weinhoeft announced on Thursday, Sept. 18, 2025.
Andrew P. Blassie, 70, of St. Louis, was sentenced to 63 months in prison and ordered to pay $2,461,887.67 in restitution following his admission to one count of bank fraud and one count of interstate transportation of funds obtained by fraud. The sentencing took place in federal court in East St. Louis.
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Blassie, who served as the Executive Vice President at the Bank of O’Fallon, engaged in a scheme from September 2023 through September 2024 to inflate his personal checking account balance by depositing checks he knew were backed by non-sufficient funds, the U.S. Attorney said. The checks originated from four personal accounts at three banks and one credit union, according to the indictment.
During this period, the U.S. District Attorney said Blassie defrauded the bank of nearly $2 million and used the falsely inflated account to pay for approximately $2.7 million in personal expenses. He concealed the fraudulent activity by removing his name and account number from internal reports designed to detect check kiting.
In a related matter, from August 2022 through September 2024, Blassie persuaded a couple from Lebanon, IL., to invest $489,000 of their retirement savings in exchange for promissory notes promising interest payments. Blassie used funds obtained through the check kiting scheme to pay some of that interest. He pledged 128 shares of the holding company owning the Bank of O’Fallon as security but later sold most of these shares without repaying the couple, who were left with no recourse after Blassie defaulted on the notes.
U.S. Attorney Weinhoeft highlighted the significance of the sentence, saying, “Blassie’s prison sentence underscores the severity of his crimes to betray his clients, employer, family, and community.” He credited the investigators and the Bank of O’Fallon’s cooperation for dismantling the scheme and protecting the financial system’s integrity.
Acting Resident Agent in Charge David Bolin of the U.S. Secret Service’s Springfield Resident Office called the scheme “outrageous” and praised the collaboration among federal and local law enforcement agencies, including the O’Fallon Police Department.
Officials from multiple agencies, including the Federal Deposit Insurance Corporation Office of Inspector General, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency Office of Inspector General, contributed to the investigation.
Special Agent in Charge Vincent R. Zehme of the FDIC Office of Inspector General emphasized the commitment to holding bank insiders accountable, stating, “This case exhibits the FDIC OIG’s steadfast commitment to working with our law enforcement partners to hold bank insiders, and other perpetrators of fraud, accountable for their role in such schemes.”
Don Daley, Acting Assistant Special Agent in Charge of the Federal Reserve System and Consumer Financial Protection Bureau’s Office of Inspector General, said, “We will continue to vigorously pursue those who undermine the safety and soundness of our banking institutions.”
Korey Brinkman, Special Agent in Charge of the Federal Housing Finance Agency Office of Inspector General’s Central Region, added, “Today’s sentencing demonstrates our ongoing commitment to investigating thoroughly allegations of fraud involving bank officials and supporting the prosecution of those charged with these offenses.”
The Bank of O’Fallon fully cooperated with law enforcement during the investigation. The case was prosecuted by Assistant U.S. Attorney Zoe Gross.
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