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Paul Doughty's History

07/01/2016 Paul H. Doughty, former president and owner of First State Bank Altus OK, convicted on 10 counts of bank fraud and conspiracy. View Court Summary.

More on Paul Doughty's prior history below View

News articles collected revealing the early stages of Paul Doughty's history.

The federal government allowed Paul Doughty to have a bank with his history and then protected Doughty while he and F. Don Anderson operated frauds in two states.

Paul Doughty returned to the family bank, First State Bank Altus OK, where he worked for his father. Paul Doughty soon took over as president and assumed control during his father's failing health, circa the early 2000s.

Along the way, Doughty was alleged in several frauds and scams, but his father always had the money to break the other party in civil court. In one case, Sil-Flo, Doughty, and Rod Fancher (Vulcan Oil) were convicted by a civil jury. Doughty money kept the case in appeals until one party was deceased. Sil-Flo tried with no success to have the trial moved to Texas, where the fraud occurred.

Paul Doughty 1980s

Considering later events revealed what was occurring at the bank at this point, the drowning can't be summarily dismissed as mere coincidence.
09/16/1981 Ayres City Banker On Alaska Trip DrownsView
10/18/1981 Pool President of ONB - Doughty Promoted startedView
1982 Failure Oklahoma National Bank, Oklahoma City OK
9/14/1982 Vulcan - Judge Denies Plea For ReceiverView
10/4/1982 First National Purchases ONBView
10/6/1982 Ailing Vulcan Owes ONB *View
10/7/1982 FDIC Asked First National Bank to Buy Ailing ONBView
1/4/1983 Dax Files BankruptcyView
6/25/1983 Criminal Allegations Made Against Oklahoma National Bank *
  • Paul Doughty was Exec VP at Oklahoma National Bank
  • Eighteen instances of alleged criminal wrongdoing at Oklahoma National Bank
  • Oklahoma Securities Commission investigation
  • Texas business accusing bankers
  • Paul Doughty and Rod Fancher, Vulcan Oil would some years later be convicted by a jury in Sil-Flo case, above.
  • Was this part of what some said was Paul Doughty's father's cost to keep the family's name clean and ensure his son could run the bank?
Walking away from securities fraud
9/7/1983 Oilmen OK Violations Injunction *
  • Walked away from securities fraud by agreeing not to operate fraud again.
  • Rumors Paul Doughty's father's spent a huge amount of money on keeping his son's name clean?
1988 Sil-Flo case - jury convicted Paul Doughty and Rod Fancher
1988  1985 - 1988 Civil jury conviction for Paul Doughty and Rod Fancher. View
Missing FBI/DOJ, FDIC... bank investigations? All involving Paul Doughty
2009 First State Bank Altus OK
2009 Vectra Bank Steamboat Springs CO
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