Man changed with fraud of more than $4 million - KMOV.com

Man changed with fraud of more than $4 million

(KMOV) -- An Illinois man is charged with fraud of more than $4 million with the Illinois Department of Agriculture.

The Illinois Attorney General’s Office said in a release that 46-year-old John Kniepmann was charged with 12 counts of violating the grain code and one count of burglary. Kniepmann is the owner and president of Grain Exchange, LLC and Consolidated Exchange, Inc.

The release said Kniepmann allegedly submitted inaccurate, misleading and false reports regarding a series of notes payable to the First State Bank of Eldorado valued at more than $4 million in order to defraud the IDOA for 11 months between 2007 and 2008.

Kniepmann is also accused of withholding records indicating the alleged shipment in March 2007 of approximately 10,000 bushels of wheat by using the name of his stepdaughter and another shipment of 5,000 bushels the following August.

The release said Kniepmann entered his vehicle while it was parked at the company’s Carlyle elevator and allegedly took a document belonging to the bank.

Kniepmann’s companies operated elevators in Carlyle, Bartelso, Germantown and Sandoval.

Violations of the Illinois grain code are felonies punishable by 3 to 7 years in prison. Kniepmann’s burglary count is also a felony. Bond has been set at $50,000.
 

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