Mo. body shop owner admits $2M bank fraud
Thu, 29 Nov 2012 11:00:00 GMT —
KANSAS CITY, Mo. (AP) -- The former owner of a northwest Missouri auto body shop has admitted defrauding three banks of more than $2 million.
The U.S. Attorney's office says 35-year-old Clint Edward Dukes, of Mayview, pleaded guilty to bank fraud Wednesday in federal court.
Dukes owned the now-defunct Dukes Auto Repair in Higginsville from 2004 to 2011.
In his plea, Dukes admitted obtaining nearly $3 million in loans from First Community Bank, US Bank and First Central Bank by falsely claiming he had repair contracts with the state. He also used phony paperwork to hide the fact that he was using loans from each bank to pay off previous loans from the other banks.
Prosecutors put the total loss to the banks from the seven-year scheme at slightly more than $2 million.