Found in The News-Gazette of Champaign is a story about a Federal conviction and sentence of Harvard farmer Timothy A. Cosman.
In March he pled guilty to a count of bank fraud.
He was sentenced to three years in prision and the requirement to repay $2,96 million to Busey Bank.
The 44-year old left the occupation of an operating engineer to join his father in the farming business.
In 2015, he claimed his father’s real estate and farm equipment were his on a bank application.
Told he needed more collateral for the loan, Cosman created a fake promisary note for $1.5 million from his father.
He then got a $475,000 loan to buy cattle, but falsified an invoice that said he bought 250 cows.
In his sentencing hearing, his attorney said he spent the money to try to keep the farm going, not on extravagant purchases.
Cosman promised to pay the money back to the bank, however, he has filed for bankruptcy.
He’s up the proverbial creek.
It’s highly unlikely that he will be able to discharge his debt to the bank in Bankruptcy Court, because it came about because of a fraud that he committed.
Bob Miller & family skate, Cosman does time.
The law is a net catching little fish. Biden (Chinese and Ukrainian scams for druggie Hunter), Obama, Franks, Acosta, Bob Miller, etc. break through the net, little people get caught!
Let me guess, he was in Local 150.
Was he an officer there?