Peoria man indicted on plethora of felony offenses in bank fraud scheme
PEORIA (25 NEWS) - A Peoria man was indicted by a grand jury on Wednesday, January 19, with 17 felony counts related to a bank fraud scheme.
Chad D. Campen, 32, of the 6100 block of Pfeiffer Road, was arrested Monday and appeared in court Tuesday for an initial appearance.
In the indictment unsealed at the hearing, Campen is charged with five counts of bank fraud, eight counts of wire fraud, two counts of illegal monetary transaction, one count of bankruptcy fraud and one count of false statements under oath, according to a Department of Justice release.
The indictment alleges that beginning as early as January 2013, Campen engaged in a scheme to defraud in which he made a number of false and fraudulent statements to banks and others. Specifically, the indictment alleges that he obtained funds by falsely claiming his success in multiple business ventures and falsely representing to others the amount of land he was farming, that he sold agricultural inputs, that he had substantial amounts of grain stored, his assets, and his overall financial status.
At Tuesday’s initial court appearance, the government requested that Campen be detained pending trial. Magistrate Judge Jonathan Hawley issued a temporary order of detention for Campen pending a detention hearing that is scheduled for 4:00 p.m. on Wednesday.
If convicted, the maximum statutory penalties for the alleged crimes charged are:
- Bank Fraud, Counts 1-5: up to thirty years’ imprisonment, a $250,000 fine, and 5 years of supervised release for each count;
- Wire Fraud, Counts 6-13: up to twenty years’ imprisonment, a $250,000 fine, and 3 years supervised release for each count;
- Illegal Monetary Transaction, Counts 14-15: up to 10 years’ imprisonment, a $250,000 fine (or twice the amount of the criminally derived property), and 3 years of supervised release for each count; and
- Bankruptcy Fraud and False Statement Under Oath, Counts 16-17: up to 5 years’ imprisonment, a $250,000 fine, and 3 years supervised release for each count.
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