OMAHA -- A Lyons, Nebraska, farmer was sentenced Monday to three months in federal prison for making false statements to banks in Iowa and Nebraska.
Joshua Huffman, 32, had pleaded guilty to bank fraud in U.S. District Court in Omaha.
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According to the U.S. Attorney's Office, Huffman submitted a series of false and fraudulent financial statements to United Bank of Iowa in Ida Grove, Iowa, and Washington County Bank in Blair, Nebraska, to obtain loans for his farming operation. The false information ultimately resulted in the loans going into default, causing a loss of approximately $320,000 to United Bank of Iowa and $14,000 for Washington County Bank.
After completing his prison sentence, Huffman must serve five years on supervised release and make restitution to the banks.