A federal judge has placed a Holladay man on five years probation and ordered him to make restitution for a 1985 check-floating scheme.

Assistant U.S. Attorney Gordon Campbell said Monday that Barry Regan Drake, 32, must pay $8,000 to American Savings and Loan under terms of his sentencing by U.S. District Judge David Winder.Drake had faced a maximum of five years in prison and $250,000 in fines.

Drake and three others were charged last October with bank fraud. Prosecutors alleged Drake persuaded his father to open a business account in the name of Drake Development Corp.

Drake told fellow conspirators that bank officials would not question the business activities of a 72-year-old man, the government charged. Drake then advised a partner to write checks to be deposited in the business account and to stop payment on the checks as soon as American Savings credited the account.

The defendants allegedly told bank officials that a real estate transaction had occurred, and later that unforeseen problems developed as reasons for stopping payment.

A federal indictment charged that Drake's father, Alma Drake, opened a checking account at American Savings' Brighton branch on Nov. 20, 1985. That same day, checks were credited to the account.

Two days later, the younger Drake wrote $52,000 in checks while a co-conspirator issued a stop order against the original deposit, court documents stated.