Hogsett Announces Bank, Wire Fraud Charges Against Columbus-Area Man
President of Local Business Alleged to Have Defrauded Banks of More Than $10 Million

INDIANAPOLIS—Earlier this year, Joseph H. Hogsett, the United States Attorney, pledged that the investigation and prosecution of white-collar and financial fraud cases would be a priority of his office in 2012. Two weeks ago, a jury in Indianapolis returned guilty verdicts in the prosecution of Tim Durham and two others, a multi-million-dollar white-collar fraud case believed to be the largest in state history.

Today, Hogsett announced more results in this ongoing effort. Specifically, Todd Van Natta, of Seymour and Columbus, has been charged by federal indictment with 10 counts of bank fraud and three counts of wire fraud, all related to a scheme that is alleged to have defrauded local Indiana banks of more than $10 million over two years.

“Those in Hoosier communities who continue to seek fortune through schemes, lies, and the misfortune of others should be on notice,” Hogsett said. “This office has absolutely no tolerance for a culture of corruption in Indiana—we will identify you, investigate you, and prosecute you with the full power of federal law.

According to the indictment, Van Natta was the president and manager of Seymour-based Van Natta Asset Management LLC and a variety of related companies. The company was involved in commercial and residential real estate projects, as well as the aviation business.

Beginning in March 2007 and continuing until 2009, Van Natta allegedly devised a scheme to defraud financial institutions, obtaining large sums of money under false pretenses. Van Natta allegedly accomplished this by preparing and submitting numerous false documents to banks throughout central and southern Indiana, including local financial institutions headquartered in Bartholomew, Decatur, Washington, Morgan, and Monroe Counties.

By using these false documents, including fraudulently-created tax returns that hid the true income and financial affairs of Van Natta’s family members, the defendant was able to secure a number of substantial loans from the financial institutions for a variety of purposes. These loans included $3.8 million for a property in Evansville, $2.1 million for multiple properties in Seymour, and $3.1 million for a variety of properties in Fort Wayne. Loans were also taken out to purchase a 1970 Cessna Aircraft ($100,000) and a 2007 Fantasy Yacht ($550,000).

It is further alleged in the indictment that Van Natta defrauded a resident of Utah by falsely claiming that he was the owner of an aircraft that the defendant had listed for sale. Van Natta then allegedly accepted thousands of dollars from the individual, ostensibly for the purchase and upgrade of the aircraft. At no time did Van Natta actually own the aircraft in question, nor was it ever delivered to the individual as per the purchase agreement.

According to Assistant U.S. Attorney Steven D. DeBrota, who is prosecuting the case for the government, Van Natta faces up to 30 years and a $250,000 fine on each count of bank fraud and up to 20 years and a $250,000 fine on each count of wire fraud if he is convicted.

The indictment also indicates that, if convicted, the federal government will seek to seize Van Natta’s assets that were attained through criminal activity. This prosecution was the result of a collaborative investigation involving the Federal Bureau of Investigation and the Internal Revenue Service.

An indictment is only a charge and is not evidence of guilt. All defendants are presumed innocent and are entitled to a fair trial at which the government must prove guilt beyond a reasonable doubt.