Indictment: Proceeds of Bank Fraud Deposited in Former Legislator’s Political Account
|U.S. Attorney’s Office March 12, 2014|
TOPEKA, KS—A federal grand jury indictment returned here today charges a former Kansas legislator with bank fraud and alleges some of the money went into his political account, U.S. Attorney Barry Grissom said today.
Trent K. LeDoux, 40, Holton, Kansas, is charged with three counts of bank fraud and two counts of money laundering. The alleged crimes took place in 2011 and 2012 while LeDoux was a member of the Kansas House of Representatives.
The indictment alleges LeDoux received three loans—$106,600, $175,500, and $183,000—from Farmers and Merchants Bank of Colby, Kansas. He told the bank he was going to use all the funds to purchase cattle that would serve as collateral on the loans. In fact, he did not intend to use all the funds to buy cattle but to pay off existing debts and to make contributions to his political account.
In two money laundering counts, the indictment alleges LeDoux transferred $15,000 on December 31, 2011, and $12,000 on August 1, 2012, to his campaign account.
The indictment seeks a monetary judgment of $465,100.
If convicted, he faces a maximum penalty of 30 years in federal prison and a fine up to $1 million on each count of bank fraud, and a maximum penalty of 10 years and a fine up to $250,000 on each count of money laundering. The FBI investigated. Assistant U.S. Attorney Richard Hathaway is prosecuting.