Norfolk man sentenced for $1.5 million bank fraud
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OMAHA — A Norfolk man was ordered to pay $1.5 million in restitution for a bank fraud scheme involving his cattle company, federal prosecutors said.
Max Kant, 48, was sentenced Wednesday in Omaha to one year and one day in federal prison, followed by three years of supervised release, U.S. Attorney Joe Kelly said.
Kant owned MK Feedlots in Battle Creek, which housed and fed cattle to be sold for slaughter.
Federal prosecutors said Kant twice submitted fraudulent cattle purchase contracts to Security National Bank that indicated a company planned to buy thousands of cattle from him. The fraudulent contracts persuaded the bank to extend Kant’s line of credit.
In September 2017, Kant admitted to Security National Bank that one of the contracts was fraudulent and MK Feedlots closed.
Security National Bank reported a loss of $2.1 million because of Kant’s actions.
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