ROCKFORD — A former Sandwich, Illinois business owner was sentenced to 21 months in federal prison for making a false statement to a financial institution. Steven J. Moorhouse, 62, was sentenced by U.S. District Judge Frederick J. Kapala.
Moorhouse, who was President and majority owner of Jefsco Manufacturing Co., Inc., a manufacturing business, pled guilty to the charge on January 12, 2015. He was ordered to pay restitution of $881,012.38 to Old Second National Bank, Aurora, Illinois.
According to the plea agreement, during July 2009, Moorhouse sought a lender to make business loans to Jefsco and began to provide Jefsco’s financial information to Old Second National Bank. The plea agreement further states that on December 4, 2009, Moorhouse provided Old Second National Bank with a document that falsely inflated the value of the accounts receivable owed to Jefsco by hundreds of thousands of dollars.
Moorhouse admitted he was aware that the amount of loan proceeds that Old Second National Bank would disburse would be, in part, determined by the amount of receivables. The investigation was conducted jointly by the Office of the Special Inspector General for the Troubled Asset Relief Program and the Federal Bureau of Investigation.
The government was represented by Assistant U.S. Attorney Michael D. Love. The sentencing was announced today by Zachary T. Fardon, United States Attorney for the Northern District of Illinois; Christy Romero, Special Inspector General for the Troubled Asset Relief Program; and Robert J. Holley, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation.
Steven J. Moorhouse, Defendant:
- Real full name: Steven J. Moorhouse
- Criminal charge: Making a false statement to a financial institution
- City and state: Rockford, Illinois
- Exact date: December 4, 2009
- Sentence: 21 months in federal prison followed by 3 years supervised release
- Dollar amount: $881,012.38 restitution to Old Second National Bank
Related Federal Cases
- Lamarion Shanes, Making a False Claim for a Federal Tax Refund, Illinois 2015 · Illinois
- Melissa Turasky, Bank Fraud and Making False Statements, Illinois 2024 · Illinois
- James E. Bishop, Making a False Entry in a Report of an Insured Bank, Washington 2013 · Illinois
- James M. DeGrandis, Jr., ERISA False Statement, Virginia 2024 · Virginia
- Andrew Helsel, Conspiracy to Commit Financial Institution Fraud, Michigan 2023 · Illinois
Key Facts
- State: Illinois
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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