A Georgetown home builder has been indicted on charges of fraudulently obtaining more than $1 million in loans from a Frankfort bank.
Lee C. Tevis, 58, was indicted Thursday on charges of bank fraud, conspiracy, making false statements in a loan application, aiding and abetting bank embezzlement and aggravated identity theft, according to a news release from the U.S. Attorney's Office for the Eastern District of Kentucky.
The indictment alleges that Tevis obtained more loans than he needed for a home he was building by setting up a shell company called Two Amigos in the name of his company foreman, and using the Social Security number of the foreman's 5-year-old son to bypass American Founders Bank's loan limits.
Tevis fraudulently received $1.4 million in loans from the bank, which he used to build a house to pay off other construction debts, according to the indictment.
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The bank eventually foreclosed on the home but allegedly suffered "a significant financial loss."
A trial date in Lexington has not yet been set. If convicted, Tevis would face a mandatory two years in prison on the identity theft charges and up to 30 years in prison on the other charges, the news release said.