Pleasanton Man Sentenced for Making False Statement to a Financial Institution

United States Attorney Deborah R. Gilg announced that on April 26, 2016, Shane M. Wibbels, age 39 of Pleasanton, Nebraska, was sentenced for making a false statement to a financial institution.  The Honorable Lyle E. Strom, Senior United States District Court Judge, sentenced Wibbels to the custody of the United States Bureau of Prisons for thirty-six (36) months.   There is no parole in the federal system.  After his release from prison, Wibbels will begin a two (2) year term of supervised release.  Wibbels was also ordered to make restitution in the amount of $1,771,728.

An investigation conducted by the Federal Bureau of Investigation determined that on March 22, 2010, Wibbels made a false statement in an Agricultural Financial Statement which he then submitted to a financial institution.  The financial institution is located in the District of Nebraska and was insured by the Federal Deposit Insurance Corporation.   The Agricultural Financial Statement submitted by Wibbels failed to identify significant liabilities Wibbels had previously incurred.  As a result of the false representations in the Agricultural Financial Statement, loans to Wibbels were approved by the financial institution.  The financial institution, which relied upon the false Agricultural Financial Statement as a basis for approving the loans to Wibbels, incurred a loss of $1,771,728 due to Wibbels’ default on the loans he received.    

The case was investigated by the Federal Bureau of Investigations.