Developer Sentenced To Prison For Bank Fraud

Department of Justice, developer sentenced
Source: justice.gov

In Connection With Carbondale Apartment Complex

Springfield, IL-(ENEWSPF)- A developer sentenced on August 9, 2017, Christopher E. Creek, 56, of Champaign, IL, is to serve 12 months and 1 day in federal prison on his federal bank fraud conviction, United States Attorney for the Southern District of Illinois, Donald S. Boyce, announced. Creek’s conviction resulted from his participation as a developer for the construction of an apartment complex in Carbondale, IL, known as the Pointe at SIU.

When he pled guilty on May 9, 2017, Creek admitted that he submitted fraudulent requests for draws of construction loan funds to the banks that financed the construction of the apartment complex. Specifically, Creek submitted documents to the banks that falsely stated that the framing for the project had been provided by a company called “Southern Framing,” and that the foundation work had been done by a company called “Solid as a Rock.” Both “Southern Framing” and “Solid as a Rock” were fictitious entities that Creek created. Creek deposited the checks that were payable to the fictitious entities into bank accounts that he controlled. He then used those funds for his own purposes, including paying subcontractors and materials suppliers from prior jobs to whom he still owed money.

Creek’s sentencing hearing was held in United States District Court in Benton, Illinois. In addition to the prison sentence, Creek was also ordered to pay $376,890.84 in restitution to the victims of his crime and fined an additional $2,000. The judge also ordered Creek to serve three years of supervised release after he is released from prison.

The investigation was conducted by agents from the Springfield Division, Marion, Illinois, Resident Agency, of the Federal Bureau of Investigation. The case was prosecuted by Assistant United States Attorney Scott A. Verseman.