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Press Release

Peoria Man Pleads Guilty to Conspiring to Commit Bank Fraud and Money Laundering

For Immediate Release
U.S. Attorney's Office, Central District of Illinois

PEORIA, Ill. – A Peoria, Illinois man, Richard Weiss, 62, of the 1500 block of North Knoxville Avenue, pleaded guilty today to one count of bank fraud and one count of conspiracy to commit money laundering. Sentencing for Weiss will be scheduled following the conclusion of proceedings against a co-conspirator.

At the hearing before U.S. Magistrate Judge Jonathan E. Hawley, Weiss admitted that he conspired with another federal defendant, Chad D. Campen, who is separately charged with multiple felony offenses, to create false and fraudulent documents. Weiss admitted that he created, at Campen’s direction, false bank statements, tax returns, and other documents for the express purpose of deceiving banks and other third parties.

In Court, the government stated Weiss had gone into business with Campen and allowed Campen to corrupt him into creating false documents, artificially inflating Campen’s apparent wealth and success. This included Weiss altering bank statements for Campen to make it appear that the account held approximately $200,000 more than it contained.

Weiss’ scheme with Campen began in or around August 2015, continuing to about January 2022, during which Weiss and Campen knowingly engaged in a scheme to defraud several financial institutions, including Community State Bank, headquartered in Galva, Illinois, with branches and offices throughout Central Illinois.

Weiss faces statutory penalties of up to 30 years imprisonment, $250,000 in fines and 5 years of supervised release on the bank fraud charge, and up to 20 years imprisonment, up to $500,000 in fines or twice the value of the property involved in the transactions and up to 5 years of supervised release on the money laundering charge.

The federal trial for Campen is scheduled to begin on April 8, 2024. Members of the public are reminded that the indictment against Campen is merely an accusation; Campen is presumed innocent unless proven guilty.

Agencies participating in the investigation include the Federal Bureau of Investigation, Springfield Field Office, and the Internal Revenue Service. Assistant U.S. Attorney Douglas F. McMeyer is representing the government in the prosecution.

Updated February 16, 2024

Financial Fraud