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Clay Center Man Sentenced For Loan Fraud

U.S. Attorney OfficeDecember 15, 2017

A Clay Center man was sentenced Thursday to two years on supervised release for selling assets he had pledged as collateral on a federal loan.

According to U.S. Attorney Tom Beall, 64-year-old Harold R. Mugler was ordered to pay approximately $84,594 in restitution.

Mugler pleaded guilty to one count of criminal conversion.

In his plea, Mugler admitted that in 2009 he received a $100,000 loan through the U.S. Department of Agriculture’s Farm Service Agency. Over the following years, he sold off various pieces of farm machinery that he had pledged as collateral on the loan.

Mugler was behind on his loan payments in 2015 when the government learned of the sales.

Copyright © Rocking M Media, 2018. All Rights Reserved. No part of this story may be reproduced without Rocking M Media’s express consent.

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