FBI: Kankakee-Area Father, Son Plead Guilty in $1.7 Million Bank Fraud Scheme

Urbana, IL-(ENEWSPF)- Sentencing has been scheduled for May 16, 2014, for Bourbonnais, Illinois businessman Gregory Yates, 54, and his son, Terrance Yates, 32, who entered pleas of guilty on February 10 to defrauding a federal business loan program of $1.7 million. Both appeared the afternoon of February 10 before U.S. Magistrate Judge David G. Bernthal in Urbana. Gregory and Terrance Yates each pled guilty to one count of conspiracy to commit bank fraud. In addition,…