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. If a class action suit or other manner of retribution is possible, count me in. I have email and voicemail from the man. He colluded with opposing counsel, I am certain. My case was damaged so severely it nearly lost me everything and I am still paying dearly.

  2. There's probably a lot of blame that can be cast around for Indiana Tech's abysmal bar passage rate this last February. The folks who decided that Indiana, a state with roughly 16,000 to 18,000 attorneys, needs a fifth law school need to question the motives that drove their support of this project. Others, who have been "strong supporters" of the law school, should likewise ask themselves why they believe this institution should be supported. Is it because it fills some real need in the state? Or is it, instead, nothing more than a resume builder for those who teach there part-time? And others who make excuses for the students' poor performance, especially those who offer nothing more than conspiracy theories to back up their claims--who are they helping? What evidence do they have to support their posturing? Ultimately, though, like most everything in life, whether one succeeds or fails is entirely within one's own hands. At least one student from Indiana Tech proved this when he/she took and passed the February bar. A second Indiana Tech student proved this when they took the bar in another state and passed. As for the remaining 9 who took the bar and didn't pass (apparently, one of the students successfully appealed his/her original score), it's now up to them (and nobody else) to ensure that they pass on their second attempt. These folks should feel no shame; many currently successful practicing attorneys failed the bar exam on their first try. These same attorneys picked themselves up, dusted themselves off, and got back to the rigorous study needed to ensure they would pass on their second go 'round. This is what the Indiana Tech students who didn't pass the first time need to do. Of course, none of this answers such questions as whether Indiana Tech should be accredited by the ABA, whether the school should keep its doors open, or, most importantly, whether it should have even opened its doors in the first place. Those who promoted the idea of a fifth law school in Indiana need to do a lot of soul-searching regarding their decisions. These same people should never be allowed, again, to have a say about the future of legal education in this state or anywhere else. Indiana already has four law schools. That's probably one more than it really needs. But it's more than enough.

  3. This man Steve Hubbard goes on any online post or forum he can find and tries to push his company. He said court reporters would be obsolete a few years ago, yet here we are. How does he have time to search out every single post about court reporters and even spy in private court reporting forums if his company is so successful???? Dude, get a life. And back to what this post was about, I agree that some national firms cause a huge problem.

  4. rensselaer imdiana is doing same thing to children from the judge to attorney and dfs staff they need to be investigated as well

  5. Sex offenders are victims twice, once when they are molested as kids, and again when they repeat the behavior, you never see money spent on helping them do you. That's why this circle continues