Photo: 401K 2012 (Flickr)
Van Netta is accused of using the money to buy a $550,000 yacht, and several properties in Seymour, Evansville, and Fort Wayne.
US Attorney Joe Hogsett today announced an indictment of ten counts of bank fraud and three counts of wire fraud against a Seymour businessman.
Hogsett says Todd Van Natta is alleged to have defrauded local Indiana banks of more than $10 million over two years. This includes Bloomington-based Monroe Bank. Van Natta is alleged to have defrauded it of more than $3.2 million before it was acquired by Old National Bank.
The indictment accuses Van Netta of preparing and submitting numerous false documents to banks throughout central and southern Indiana, to obtain fraudulent loans for airplanes, yachts, and real estate.
If convicted, Van Natta faces up to 30 years in prison for each count of bank fraud and up to 20 years on each count of wire fraud.
