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Man who bilked banks of $10 million sentenced

Dave Stafford
September 12, 2013
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A southern Indiana man who defrauded Indiana banks of more than $10 million by supplying bogus financial information from family members to obtain multi-million-dollar loans for real estate, an airplane and a yacht will spend five years in federal prison.

Todd Van Natta of Seymour and Columbus also was ordered to pay almost $7 million in restitution after he pleaded guilty to 10 counts of bank fraud and two counts of tax fraud. U.S. District Judge William T. Lawrence of the Southern District of Indiana imposed sentence Thursday.

Van Natta was the president and manager of the Seymour-based Van Natta Asset Management, LLC, along with a variety of related companies, according to a statement from the office of Joe Hogsett, U.S. attorney for the Southern District. Van Natta’s company was involved in commercial and residential real estate projects, as well as the aviation business.

Van Natta was accused in July of devising a scheme to defraud financial institutions from 2007 to 2009, obtaining large sums of money by preparing and submitting numerous false documents to banks throughout central and southern Indiana, including local financial institutions headquartered in Bartholomew, Decatur, Washington, Morgan and Monroe counties.

The documents included tax returns and were used to obtain loans, including two loans of more than $3 million for property in Evansville and multiple parcels in Fort Wayne, as well as a $2.1 million bank note for properties in Seymour. He also got bogus six-figure loans to buy a 1970 Cessna Aircraft and a 2007 Fantasy yacht, according to Hogsett’s office.

Van Natta also defrauded a Utah resident of thousands of dollars by falsely claiming he owned an airplane listed for sale.

The government has moved to seize Van Natta’s assets gained by criminal activity. Senior litigation counsel Steven D. DeBrota and Assistant U.S. Attorney MaryAnn Mindrum prosecuted the case that resulted from an investigation that included the FBI and Internal Revenue Service.  
 

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  1. Unfortunately, the court doesn't understand the difference between ebidta and adjusted ebidta as they clearly got the ruling wrong based on their misunderstanding

  2. A common refrain in the comments on this website comes from people who cannot locate attorneys willing put justice over retainers. At the same time the judiciary threatens to make pro bono work mandatory, seemingly noting the same concern. But what happens to attorneys who have the chumptzah to threatened the legal status quo in Indiana? Ask Gary Welch, ask Paul Ogden, ask me. Speak truth to power, suffer horrendously accordingly. No wonder Hoosier attorneys who want to keep in good graces merely chase the dollars ... the powers that be have no concerns as to those who are ever for sale to the highest bidder ... for those even willing to compromise for $$$ never allow either justice or constitutionality to cause them to stand up to injustice or unconstitutionality. And the bad apples in the Hoosier barrel, like this one, just keep rotting.

  3. I am one of Steele's victims and was taken for $6,000. I want my money back due to him doing nothing for me. I filed for divorce after a 16 year marriage and lost everything. My kids, my home, cars, money, pension. Every attorney I have talked to is not willing to help me. What can I do? I was told i can file a civil suit but you have to have all of Steelers info that I don't have. Of someone can please help me or tell me what info I need would be great.

  4. It would appear that news breaking on Drudge from the Hoosier state (link below) ties back to this Hoosier story from the beginning of the recent police disrespect period .... MCBA president Cassandra Bentley McNair issued the statement on behalf of the association Dec. 1. The association said it was “saddened and disappointed” by the decision not to indict Ferguson police officer Darren Wilson for shooting Michael Brown. “The MCBA does not believe this was a just outcome to this process, and is disheartened that the system we as lawyers are intended to uphold failed the African-American community in such a way,” the association stated. “This situation is not just about the death of Michael Brown, but the thousands of other African-Americans who are disproportionately targeted and killed by police officers.” http://www.thestarpress.com/story/news/local/2016/07/18/hate-cops-sign-prompts-controversy/87242664/

  5. What form or who do I talk to about a d felony which I hear is classified as a 6 now? Who do I talk to. About to get my degree and I need this to go away it's been over 7 years if that helps.

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