Grand jury indicts Rush Center man
Published on -11/11/2009, 1:36 PM
Printer-friendly version
E-Mail This Story
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.
