URBANA, Ill. – A Chandlerville man, Travis L. Murphy, 55, has been sentenced to 42 months imprisonment, followed by 3 years of supervised release for bank fraud. Murphy was also ordered to pay $4,966,624.01 in restitution to UMB Bank.
At the sentencing, the government presented evidence that Murphy and his parents farmed in and around Cass County and that, in 2016, Murphy contracted with UMB Bank for a line of credit in the amount of $1,762,000. During due diligence for the loan, Murphy provided false paperwork claiming that a grain complex asset cost approximately $2.65 million dollars to build when the actual cost was approximately $986,000. The misrepresentation caused UMB Bank to extend the initial loan and other loans based on that false information and false tax returns Murphy provided to UMB Bank. The loans totaled approximately $8.4 million dollars before Murphy attempted to…
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