The former owner of an Indiana hotel was recently indicted by afederal grand jury for bilking more than $10 million from a creditunion and several banks.

Todd Van Natta was indicted on three counts of wire fraud and 10counts of bank fraud, according to Joseph Hogsett, U.S. Attorneyfor the Southern District of Indiana.

Van Natta, along with his father, used false bank statement andtax returns to obtain the loans, the indictment charged. Inaddition, Van Natta was also able to obtain more than $6 million tobuy other properties, an airplane and a yacht.

In 2007, a $3.8 million loan came from the Centra Credit Union in Columbus, Ind., to purchase the RiverHouse, an upscale hotel in downtown Evansville, according to theindictment. The property was bought in May by an Evansvillebusinessman for $475,000 and may be renovated and reopen forbusiness in 2013, local media outlets reported.

A comment from the $1 billion Centra was not immediatelyavailable.

Van Natta's wire fraud charges came about for the January saleof the airplane he previously purchased. The company repossessedthe airplane after he stopped making payments. According to theindictment, Van Natta applied for and received a $13,000 downpayment and received an additional $3,000, which he transferred toan Indiana bank account.

According to Hogsett, in addition to a fine of up to $250,000,Van Natta could also receive a sentence of up to 30 years in prisonfor each bank fraud count and 20 years for each wire fraudcount.