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Columbus-area businessman faces federal fraud charges

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A Columbus-area businessman is facing multiple federal charges that he defrauded banks, credit unions and investors of more than $10 million.

Todd Van Natta, who operated businesses in Columbus and Seymour, was charged by federal indictment last week with 10 counts of bank fraud and three counts of wire fraud, according to U.S. Attorney for the Southern District of Indiana Joseph Hogsett.

Van Natta, president and manager of Seymour-based Van Natta Asset Management LLC and several related companies, is accused of devising a scheme to defraud financial institutions to obtain large sums of money under false pretenses. According to a statement from Hogsett, loans occurring between March 2007 and 2009  exceeded $10 million.

The indictment accuses Van Natta of preparing and submitting false documents, including phony income tax returns, to obtain loans from banks and credit unions in Bartholomew, Decatur, Monroe, Morgan and Washington counties.

The loans included $3.8 million for an 83-room River House hotel in Evansville. Less than four years after the loan, the hotel sold for $475,000 at a sheriff’s sale after foreclosure, according to the Evansville Courier & Press.

Hogsett said other loans involving Van Natta’s businesses included $2.1 million for properties in Seymour and $3.1 million for properties in Fort Wayne. Van Natta also received a $100,000 loan to buy a 1970 Cessna aircraft and a loan for $550,000 for a 2007 fantasy yacht.

Van Natta also is accused of defrauding a Utah investor of thousands of dollars, ostensibly for the purchase and upgrade of an aircraft Van Natta listed for sale. Hogsett’s office said Van Natta never owned the plane.  

If convicted, Van Natta faces up to 30 years in prison and a $250,000 fine on each count of bank fraud and up to 20 years in prison and a $250,000 fine on each count of wire fraud.

Hogsett’s statement said prosecutors will seek to recover assets if Van Natta is convicted. The charges resulted from an investigation that included the FBI and Internal Revenue Service.  


 

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  1. Just an aside, but regardless of the outcome, I 'm proud of Judge William Hughes. He was the original magistrate on the Home place issue. He ruled for Home Place, and was primaried by Brainard for it. Their tool Poindexter failed to unseat Hughes, who won support for his honesty and courage throughout the county, and he was reelected Judge of Hamilton County's Superior Court. You can still stand for something and survive. Thanks, Judge Hughes!

  2. CCHP's real accomplishment is the 2015 law signed by Gov Pence that basically outlaws any annexation that is forced where a 65% majority of landowners in the affected area disagree. Regardless of whether HP wins or loses, the citizens of Indiana will not have another fiasco like this. The law Gov Pence signed is a direct result of this malgovernance.

  3. I gave tempparry guardship to a friend of my granddaughter in 2012. I went to prison. I had custody. My daughter went to prison to. We are out. My daughter gave me custody but can get her back. She was not order to give me custody . but now we want granddaughter back from friend. She's 14 now. What rights do we have

  4. This sure is not what most who value good governance consider the Rule of Law to entail: "In a letter dated March 2, which Brizzi forwarded to IBJ, the commission dismissed the grievance “on grounds that there is not reasonable cause to believe that you are guilty of misconduct.”" Yet two month later reasonable cause does exist? (Or is the commission forging ahead, the need for reasonable belief be damned? -- A seeming violation of the Rules of Profession Ethics on the part of the commission) Could the rule of law theory cause one to believe that an explanation is in order? Could it be that Hoosier attorneys live under Imperial Law (which is also a t-word that rhymes with infamy) in which the Platonic guardians can do no wrong and never owe the plebeian class any explanation for their powerful actions. (Might makes it right?) Could this be a case of politics directing the commission, as celebrated IU Mauer Professor (the late) Patrick Baude warned was happening 20 years ago in his controversial (whisteblowing) ethics lecture on a quite similar topic: http://www.repository.law.indiana.edu/cgi/viewcontent.cgi?article=1498&context=ilj

  5. I have a case presently pending cert review before the SCOTUS that reveals just how Indiana regulates the bar. I have been denied licensure for life for holding the wrong views and questioning the grand inquisitors as to their duties as to state and federal constitutional due process. True story: https://www.scribd.com/doc/299040839/2016Petitionforcert-to-SCOTUS Shorter, Amici brief serving to frame issue as misuse of govt licensure: https://www.scribd.com/doc/312841269/Thomas-More-Society-Amicus-Brown-v-Ind-Bd-of-Law-Examiners

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