Former Regions Bank VP pleads guilty to bribery, fraud charges in $5 million scheme

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A former senior vice president at Regions Bank will plead guilty to conspiracy charges for his role in a $5 million bribery plot.

Philip Henry Cooper, 67, will plead guilty to conspiracy to solicit and accept bribes, Acting U.S. Attorney Robert O. Posey and FBI Special Agent in Charge Roger C. Stanton said in a press release.

Court documents show Cooper steered Regions to a company established by his co-conspirator, and then he and two other men laundered millions of dollars from that company.

Cooper, of Birmingham, was indicted last year along with Richard Alan Henderson on charges of conspiracy, bank bribery, wire fraud affecting a financial institution, and money laundering charges. Henderson was also a senior vice president at Regions, and he is scheduled for trial in June.

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