Former county treasurer pleads guilty to charging homeowners hig -

Former county treasurer pleads guilty to charging homeowners high interest rates

Posted: Updated:
By Belo Content KMOV By Belo Content KMOV

MADISON COUNTY, Ill. ( -- A former Madison County treasurer has pled guilty to an elaborate tax scheme. where those who were having a hard time paying and were required to pay extremely high interest rates.

Madison County officials called the behavior of 58-year old Fred Bathon unethical and unacceptable.

To discourage this type of thing from happening again, the County treasurer said the state has recently passed a law that requires the video taping of tax sales.

Kurt Prenzler, Madison County treasurer, also said he enacted a policy of using automatic software to ensure there is a level playing field.

Citizens were paying the maximum penalty interest rate of 18 percent instead of the actual 4 percent if the tax sales are run ethically.

Prenzler said Banthon will lose his state pension which he said is a little more than $70,000 a year.

Prenzler said for homeowners looking to recoup their money would likely have to be settled in a civil suit.



Powered by Frankly