The former owner of an Indiana hotel was recently indicted by a federal grand jury for bilking more than $10 million from a credit union and several banks.
Todd Van Natta was indicted on three counts of wire fraud and 10 counts of bank fraud, according to Joseph Hogsett, U.S. Attorney for the Southern District of Indiana.
Van Natta, along with his father, used false bank statement and tax returns to obtain the loans, the indictment charged. In addition, Van Natta was also able to obtain more than $6 million to buy other properties, an airplane and a yacht.
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