Shepherd sues his former employer

Fred Shepherd has been sued by his former employer, alleging that he was part of a scheme to defraud his former bank, Community First.  Now Shepherd has filed a lawsuit of his own, and he’s accusing his former employers of breach of contract.  Filed Friday in the Oconee Common Pleas Court, the lawsuit alleges five causes of action—including breach of contract.  Shepherd’s claim is that he retired as the Community First CEO January 1 with a “salary continuation plan” that, he says, the bank stopped payments on about six months later.  Named defendants, besides the bank, are eight individuals identified as members of the bank board:  Dr. Larry Bowman, William M. Brown, Richard D. Burleson, Robert H. Edwards, John R. Hamrick, Gary V. Thrift, James E. Turner, and Charles L. Winchester.  According to the lawsuit, Shepherd’s salary continuation plan was approved by the board in the summer of 2014, preceding Shepherd’s retirement December 31, 2014.  The plan called for Shepherd, once he turned 71 in 2011, to receive $210 thousand a year for a period of 20 years.