Seymour Man Gets 5 Years for $10M Bank Fraud
The U.S. Attorney's office announced today that a Seymour man who defrauded Indiana banks of more than $10 million has been sentenced to five years in federal prison.
Van Natta, former president and manager of Seymour-based Van Natta Asset Management, has also been ordered to pay nearly $7 million in restitution to his victims, in addition to his federal prison sentence.
Natta was indicted of preparing numerous false documents – including false tax returns – to obtain substantial loans from several banks through central and southern Indiana. The loans included $3.8 million for a property in Evansville, $3.1 million for a number of properties in Fort Wayne, and $550,000 to purchase a 2007 Fantasy Yacht.
Natta was also accused of defrauding a Utah resident out of thousands of dollars by falsely claiming he owned an aircraft, which he then attempted to sell.
"This criminal scheme was fueled by greed, and left behind a trail of victims across the Hoosier State," said U.S. Attorney Joseph Hogsett. "As Mr. Van Natta learned today, embracing such a culture of corruption doesn't pay. You will be caught, and you will be brought to justice."
Natta was ordered to serve five years of federally-supervised release at the end of his prison sentence. The government has also filed its intention to seize Natta's assets obtained through criminal activity.