PEORIA, Ill. (WMBD) — A Peoria man has been indicted on 17 felony counts related to a bank fraud scheme.
Chad D. Campen, 32, was arrested on Jan. 24 and was indicted at a federal courthouse Tuesday on several charges:
- Five counts of bank fraud
- Eight counts of wire fraud
- Two counts of illegal monetary transaction
- One count of bankruptcy fraud
- One count of false statements under oath
The offenses started in January 2013, when Campen defrauded several banks and other institutions by making false and fraudulent statements. He is alleged to have faked success in multiple business ventures in order to obtain funds, as stated in the indictment.
He also lied to others about the amount of land he was farming, as well as his assets and overall financial status. He told them he sold agricultural inputs and had substantial amounts of grain stored, the indictments stated.
During Campen’s initial court appearance Tuesday, Assistant U.S. Attorney Douglas F. McMeyer requested that he be detained pending a trial. U.S. Magistrate Judge Jonathan E. Hawley issued a temporary order of detention for Campen pending a detention hearing scheduled for Jan. 26 at 4 p.m.
If convicted, the maximum statutory penalties for the alleged crimes charged are:
- Bank Fraud, Counts 1-5: up to thirty years’ imprisonment, a $250,000 fine, and five years of supervised release for each count;
- Wire Fraud, Counts 6-13: up to 20 years’ imprisonment, a $250,000 fine, and three years supervised release for each count;
- Illegal Monetary Transaction, Counts 14-15: up to 10 years’ imprisonment, a $250,000 fine (or twice the amount of the criminally derived property), and three years of supervised release for each count; and
- Bankruptcy Fraud and False Statement Under Oath, Counts 16-17: up to five years’ imprisonment, a $250,000 fine, and three years supervised release for each count.
Agencies participating in the investigation include the Federal Bureau of Investigation and the Internal Revenue Service.