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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. For many years this young man was "family" being my cousin's son. Then he decided to ignore my existence and that of my daughter who was very hurt by his actions after growing up admiring, Jason. Glad he is doing well, as for his opinion, if you care so much you wouldn't ignore the feelings of those who cared so much about you for years, Jason.

  2. Good riddance to this dangerous activist judge

  3. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

  4. I want to post this to keep this tread alive and hope more of David's former clients might come forward. In my case, this coward of a man represented me from June 2014 for a couple of months before I fired him. I knew something was wrong when he blatantly lied about what he had advised me in my contentious and unfortunate divorce trial. His impact on the proceedings cast a very long shadow and continues to impact me after a lengthy 19 month divorce. I would join a class action suit.

  5. The dispute in LB Indiana regarding lake front property rights is typical of most beach communities along our Great Lakes. Simply put, communication to non owners when visiting the lakefront would be beneficial. The Great Lakes are designated navigational waters (including shorelines). The high-water mark signifies the area one is able to navigate. This means you can walk, run, skip, etc. along the shores. You can't however loiter, camp, sunbath in front of someones property. Informational signs may be helpful to owners and visitors. Our Great Lakes are a treasure that should be enjoyed by all. PS We should all be concerned that the Long Beach, Indiana community is on septic systems.

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