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Man Sentenced for Lying on Farm Loan Application

Tuesday, September 3, 2019 15:34

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MADISON, WIS. — Scott C. Blader, United States Attorney for the Western District of Wisconsin, announced that Henry Berg, 42, formerly of Arcadia, Wisconsin, and currently of Geneva, Illinois, was sentenced today by U.S. District Judge James D. Peterson to one year and one day in federal prison for lying on a farm loan application. He was also sentenced to four years of supervised release following incarceration.

On May 2, 2019, Berg pleaded guilty to knowingly making a false statement for the purpose of influencing an Agricultural Credit Association, Badgerland Financial ACA (now Compeer Financial), in connection with a $650,000 agricultural loan.

Berg failed to disclose certain debts on his 2015 loan application, and also misrepresented to the bank that he had obtained crop insurance. Once he defaulted on the loan, Badgerland learned that Berg did not farm in 2015 and had disposed of the collateral he had pledged in connection with the loan. Badgerland also learned that Berg sub-leased his land and sold farming-related items to another farmer, for which the defendant received compensation that he did not disclose or turn over to Badgerland.

Because Berg’s Badgerland loan was partially guaranteed by the Department of Agriculture’s Farm Service Agency, the federal government suffered a loss of $596,036.30. Badgerland suffered a loss of $53,963.70. Berg was ordered to pay restitution.

The charge against Berg was the result of an investigation conducted by the U.S. Department of Agriculture Office of Inspector General and the Federal Bureau of Investigation. The prosecution of the case has been handled by Assistant U.S. Attorney Meredith P. Duchemin.

Source: http://criminal-justice-online.blogspot.com/2019/09/man-sentenced-for-lying-on-farm-loan.html

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