Kankakee Businessman Charged with Bank Fraud; Money Laundering
Urbana, Ill. – Late yesterday afternoon a grand jury returned an indictment charging Kankakee, Ill., businessman Richard M. Rogers with defrauding a Manteno bank in 2010. Rogers, 48, of Orland Park, Ill., owned a Kankakee telecommunications corporation, Telecom Assemblies Plus, Inc., doing business as “Future Vision,” with his wife.
According to the indictment, on Feb. 24, 2010, Rogers provided the bank with fraudulent individual and corporate federal tax returns for tax years 2007 through 2009 when he applied for a loan of $206,250 through the refinance of property he owned. The indictment alleges that the fraudulent tax returns overstated the taxable income and business income of he and his wife and of Telecom Assemblies Plus, Inc. In fact, according to the indictment, Rogers knew that the actual individual and corporate federal tax returns he had filed with the Internal Revenue Service for tax years 2007 through 2009 reported less income than the false returns he provided to the bank. As a result of Roger’s fraudulent representations, the bank approved and provided the loan to Rogers on or about May 5, 2010.
If convicted, bank fraud carries a maximum statutory penalty of 30 years in prison. For money laundering, the maximum statutory penalty is five years in prison.
The date for Rogers’ arraignment will be determined by the U.S. Clerk of the Court.
Members of the public are reminded that an indictment is merely an accusation; the defendant is presumed innocent unless proven guilty.
The charges are the result of an investigation by the Criminal Investigation Division of the Internal Revenue Service. The case is being prosecuted by Assistant U.S. Attorney Eugene L. Miller.
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