Grand jury indicts Rush Center man
Published on -11/11/2009, 1:36 PM
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By MIKE CORN
A federal grand jury in Wichita on Tuesday indicted Patrick Renz, 44, Rush Center, on a single count of bank fraud.
He is charged with obtaining loans from the Otis branch of Community Bank of the Midwest, pledging cattle he no longer possessed as collateral.
According to the three-page indictment, Renz obtained loans from the bank beginning Aug. 31, 2006, and continuing through June 29, 2007.
When he obtained the loans, the indictment alleges, Renz pledged cattle he no longer owned.
In addition to the criminal charge, the U.S. Attorney's office also seeks forfeiture of $184,385.11 -- representing the gross proceeds obtained through loans.
If convicted, Renz faces a maximum penalty of 30 years and a fine of up to $1 million.
The loans were made through the Otis branch of the Great Bend-based bank, Community Bank. That bank had been known as Interstate Bank when it was located in WaKeeney.
Let's skip the jury trial and start his jail time?
(Posted by: Taxpayer)
He's a victim: 11/12/2009
Looks like self pity still running strong in the agri-welfare pit that western kansas has become. No one is responsible for their actions. It's always 'gubment', and that guy behind the tree. Oh yah, this is western kansas. It's the guy behind the post pretending to be a farmer!!!!
(Posted by: Tim Rhyne)
The Big Guys: 11/11/2009
The larger corperations do almost the same thing. They over extended their money and ended coming up short and are bailed out by the government. The people responsible aren't prosecuted but given a bonus. The individual is charged with crimes with outrageous penalities. Where is the fairness in this? I also feel alot of this is blown out of perportion to intimidate the people, to put fear into them. This whole thing, the charged crime and penality should be put into the perspective before it goes into the courts.
(Posted by: Schnigglefritz)
Murder is cheaper: 11/11/2009
Geez....isn't the punishment a little out or perspective??? 30 years and 1 million dollars?? You can kill your spouse and be out in 6 years but lie a little to obtain a loan so you can make money in farming and face the wrath of justice. I don't know the guy or the details, just the article hits me as too steep a possible sentence.
(Posted by: Hays citizen)
grand jury: 11/11/2009
what on earth is the matter with this bank to give somebody that much money and not check the situation out
(Posted by: jody)
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