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Posted: Wednesday, 12 March 2014 11:23PM

Former Kansas Legislator Indicted for Bank Fraud



TOPEKA, Kan.  -  A former Kansas legislator has been indicted by a federal grand jury on charges on bank fraud.

The U.S. Attorney's Office says Trent K. LeDoux, 40, of Holton is accused of diverting funds from a loan to pay off campaign debt. The indictment alleges that LeDoux received three loans from Farmers and Merchants Bank of Colby, totaling 465,100.

LeDoux told the bank that the funds would be used to purchase cattle. The indictment alleges that LeDoux instead diverted those funds to pay off existing debts and to make contributions to his political account.

In two money laundering accounts, LeDoux is accused of diverting $15,000 to his campaign in December of 2011 and in again in August of 2012.

If convicted, he faces a maximum penalty of 30 years in federal prison and a fine up to $1 million on each count of bank fraud, and a maximum penalty of 10 years and a fine up to $250,000 on each count of money laundering.

 

KAKE News
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Topics : Business_FinanceLaw_CrimePolitics
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Locations : KansasTopeka
People : Trent K. LeDoux
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03/12/2014 11:24PM
Former Kansas Legislator Indicted for Bank Fraud
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