Salem, Iowa Woman Sentenced to Thirty Months in Prison for Bank Fraud
DAVENPORT, IA – On March 18, 2016, Lori Kristine Bentler, 44, of Salem, Iowa, was sentenced by United States District Court Judge Stephanie M. Rose to 30 months in federal prison for defrauding the M.H.I. Credit Union in Mount Pleasant, Iowa, announced Acting United States Attorney Kevin E. VanderSchel. Bentler was ordered to serve five years of supervised release following her prison term, pay $100 to the Crime Victims’ Fund, and pay $249,250.51 in restitution.
Bentler pleaded guilty to one count of bank fraud occurring on March 28, 2011. According to the plea agreement, on that date Bentler fraudulently funded a $30,000 loan to herself without approval from the credit union’s board of directors. Bentler also admitted that no later than on or about November 6, 2009, and ending on or about September 12, 2011, she devised a scheme and artifice to defraud M.H.I. Credit Union and to obtain funds and moneys under the custody and control of M.H.I. Credit Union by means of materially false and fraudulent pretenses, representations, and promises. Bentler fraudulently issued and refinanced several loans to herself, her sister, and her daughter, in some instances without the approval of the M.H.I. Credit Union board of directors and in other instances based on material misrepresentations or omissions. Bentler concealed many, if not all, of the unapproved loans from the board of directors and exposed M.H.I. Credit Union to a risk of loss on those loans.
The credit union’s deposits were, at all relevant times, insured by the National Credit Union Administration Board and the National Credit Union Insurance Fund. Bentler agreed with United States Attorney that her sentence should be between 18 months and 30 months, inclusive.
This matter was investigated by the Federal Bureau of Investigation. The case was prosecuted by the United States Attorney’s Office for the Southern District of Iowa.