West Nebraska farmer faces federal bank fraud charges | Nebraska News

SCOTTSBLUFF, Neb. (AP) – A rancher and farmer in western Nebraska has been charged with four federal counts of bank fraud after prosecutors said he lied to bank officials about his assets and its indebtedness in order to obtain more than 11 million dollars in loans.

George Liakos, 62, grows beans, corn and sugar beets and raises cattle near Bayard, the Scottsbluff Star-Herald reported. Liakos tried to defraud the Great Western Bank after entering into a loan deal with the bank in 2017 totaling $ 11.2 million for equipment and farm operations, according to the indictment. and ranch.

Prosecutors say that from April 2017 to May 2019, Liakos submitted forged documents that overestimated his stock of commodities and underestimated or failed to report his other loans and accounts payable.

The indictment says Liakos also lied to bank officials about his current stock of commodities and livestock “in an attempt to hide his current financial situation from the Great Western Bank.”

Each charge of bank fraud carries a sentence of up to 30 years in prison, while the misrepresentation tally can go up to five years in prison.

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