TOPEKA – Nicholas J. Smith, 34, St. Paul, has been indicted on bank fraud charges by a federal grand jury in Topeka.
The U.S. District Court returned seven counts of bank fraud and four counts of making false statements on loan and credit applications against Smith, the Chanute Tribune reported.
Smith is accused of using false invoices for the purchase of cattle and seed in 2018 and falsely claiming ownership of items used for collateral to receive approximately $2.75 million in loans.
Smith is accused of defrauding the USDA’s Commodity Credit Corporation through funds given to farmers administered by the Farm Service Agency through the Coronavirus Food Assistance Program, the newspaper said.
Smith is in the Neosho County Jail because of a contempt of court order in a civil case involving banks and farm equipment manufacturers.
