PEORIA, Ill. — Federal authorities have announced the indictment of a Peoria man for an alleged multi-year bank fraud scheme.
According to a release from the U.S. Attorneys Office of the Central District of Illinois, an investigation by agents with the FBI and IRS culminated with the arrest of Chad Campen, 32, on Saturday.
Campen appeared for an initial hearing at the federal courthouse in Peoria on Tuesday.
According to the indictment, unsealed during the hearing, Campen, “made false and fraudulent statements” to obtain money from banks and others.
According to the release, Campen obtained funds by falsely claiming his success in several 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.
Prosecutors allege the scheme began as far back as January, 2013.
Campen faces a total of 17 felony counts in the case.
If convicted, he faces more than 60 years in prison and close to 1-million dollars in fines as well as mandatory supervised release.
Campen will remain in federal custody while he awaits his next court date, which is scheduled for Wednesday afternoon, January 26, 2022.
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