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Kokomo Man Arrested For $600,000 In Fraudulent Loans

The loans allegedly totaled $600 thousand.

Indiana State Police arrested a Kokomo man last week following allegations of fraudulent financial activity.

State Police say 50-year-old Charles Scott Defabritis allegedly obtained several farm loans in 2013 using false information and collateral.

The loans totaled nearly $600,000.

Payments on the outstanding balance of the loans were allegedly not made and even though some of the property had been repossessed. The total loss remains around $300,00.

A complaint was made by the Grant County State Bank in February of this year.

Defabritis was arrested following a four month investigation by State Police. Defabritis faces two felony counts of Corrupt Business Influence, one felony charge of Fraud on a Financial Institution and one charge of Theft.

He is being held in the Grant County Jail.

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