A 52-year-old Aberdeen man has been charged with making false crop insurance claims, according to court documents.
Nickolas Berbos, also known as Nikolas Berbos, was indicted by a federal grand jury on August 20, 2013, for three counts of false crop insurance claims.
The alleged scheme dates back to 2009, 2010, and 2011, when Berbos allegedly over-valued land, property, and securities to influence the Federal Crop Insurance Corporation.
Berbos submitted one or more claims for prevented planting indemnity payments, despite knowing he was ineligible for such payment.
The maximum penalty for each count is up to 30 years in custody, a $1,000,000 fine, or both; 5 years of supervised release; and $100 to the Federal Crime Victims Fund. Restitution may also be ordered.
For Berbos, the stakes are high, but he has pleaded not guilty to the charges and will face a trial in the future. The investigation into the alleged scheme is being conducted by the U.S. Department of Agriculture, and Assistant U.S. Attorney Ann M. Hendrickson is prosecuting the case.
Berbos was released pending trial and a date has not been set. The charge is merely an accusation and Berbos is presumed innocent until and unless proven guilty.
First Assistant United States Attorney Randy J. Seiler announced the indictment, and U.S. Magistrate Judge William D. Gerdes presided over Berbos’ initial court appearance.
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Key Facts
- State: South Dakota
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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