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Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
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Owner of Preston Farms Popcorn guilty of bank fraud Louisville, KY - The owner of the shuttered Preston Farms Popcorn, LLC (Preston) pleaded guilty to bank fraud today, before Chief Judge Joseph H. McKinley, Jr., in U.S. District Court, for diverting buyers' payments toward the operation of his business rather than towards the payment of his loan, announced U.S. Attorney John E. Kuhn, Jr. Kermit W. Highfield, 43, of Louisville, pleaded guilty to a single count of bank fraud, stemming from a business loan from UPS Business Capital Credit (UPS) that was insured by the United States Export-Import Bank (Ex-Im Bank). This loan was an advance on payments due from Preston's international buyers. Preston defaulted on the UPS loan, and the Ex-Im Bank reimbursed UPS, resulting in a loss of $110,678.74 to the Ex-Im Bank. According to the plea agreement, between March 18, 2013 and May 30, 2013, Highfield executed a scheme to defraud UPS. Under the terms of the loan, Preston was required to instruct buyers of the product to transmit payments into a specific BB&T Bank account, and those funds were to be used to pay off the UPS loan. However, Highfield admitted to instructing Preston's buyers to deposit payments into other bank accounts controlled by Highfield and Preston. The funds were diverted from UPS and used by Highfield to pay for Preston operating expenses. Highfield faces a maximum penalty of 30 years in prison, a fine of $1,000,000 and a five year term of supervised release. Sentencing is scheduled for February 1, 2016, at 11am in Louisville. This case is being prosecuted by Assistant United States Attorney David Weiser and is being investigated by United States Export-Import Bank OIG in Washington, D.C. This story was posted on 2015-11-08 11:02:41
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