Former Nebraska Regent Charged with Bank Fraud
Omaha (KPTM) - Former University of Nebraska Regent David Hergert has been charged with 18 counts of bank fraud.
The federal indictment announced Friday says the 69-year-old Hergert inflated the assets of Hergert Milling Inc. in order to maintain a $3 million revolving loan through First National Bank of Omaha.
The loan was issued in 2000.
Court documents say Hergert's assets were inflated 18 times between Jan. 31, 2000, and Dec. 14, 2006.
Each count of bank fraud carries a maximum sentence of 30 years in prison and a $1 million fine. Hergert Milling has locations in Scottsbluff, Gering and Morrill.