Wednesday, December 18 2013 4:58 PM EST2013-12-18 21:58:47 GMT
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LOUISVILLE, Ky. (WDRB) -- A Jeffersonville, Ind. man has been sentenced to 15 months in federal prison, after authorities say he and five other men committed bank and wire fraud.
U.S. District Court says Dane Little admitted to coming up with a scheme to defraud banks and mortgage lenders by submitting false mortgage information for 19 Louisville and Jeffersonville properties, as well as several cars. Officials say the properties were worth more than $5 million.
Little will also have to pay almost $500,000 in restitution money.
According to the indictment, Little was involved in a fraud scheme with Shawn Bramlett, Billy McDaniels, Kyle Kark, Mark Hack and Stephen Netherton. The men allegedly submitted applications for loans that included false employment and bank account information.
The indictment says the men then wired the loan money to their own personal bank accounts.
All of the men have pled guilty. Besides Little, only Netherton has been sentenced.
Netherton will spend 24 months in a federal prison and pay more than $900,000 in restitution.
The other four men are scheduled to be sentenced in the coming months.