⏱ 2 min read
Mashon Van Mill, a 41-year-old farmer from Shell Rock, Iowa, has been nailed for lying to a small-town bank to secure a $1 million line of credit. The scheme unraveled when bank employees got suspicious and started digging.
Van Mill applied for the loan in 2025, claiming he had over $2 million worth of corn in storage. But law enforcement discovered he had no corn to speak of. The bank ended up lending Van Mill $873,118.71, which he promptly defaulted on.
When investigators checked with the elevator where Van Mill claimed to be storing corn, the owner denied ever seeing the letter from the bank. He also confirmed Van Mill had no corn in storage.
Van Mill pleaded guilty to making a false statement to a financial institution in October 2025. He was sentenced to six months in federal prison and ordered to pay back $873,118.71 in restitution to the victim bank.
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📋 Key Facts
- Crime: White Collar Crime
- Defendant: Iowa
- Location: IA
- Source: DOJ Press Release
