EAST ST. LOUIS, Ill. (AP) -- A southwestern Illinois businessman faces up to 30 years in prison now that he's admitted committing bank fraud through a check-kiting scheme.
Jody Markel, 45, of Alton pleaded guilty this week in federal court in East St. Louis.
Authorities say Markel was running Topflight Logistics of Edwardsville and TFV Trucking of Alton when he wrote checks without sufficient funds to cover them while moving money between accounts. That prevented the checks from bouncing.
Prosecutors say Markel deposited more than 200 checks between accounts for each company totaling nearly $2.2 million, resulting in bank losses totaling more than $212,000.
Markel also faces a fine of up to $1 million when sentenced Nov. 2.