SPRINGFIELD, IL-(ENEWSPF)- A grand jury August 8, 2012, returned an indictment charging Bourbonnais, Illinois businessman Gregory Yates, 53, and his son, Terrance Yates, 31, with defrauding a federal business loan program offered through a western Illinois bank of approximately $1.7 million. Gregory and Terrance Yates are both charged with one count of conspiracy to commit bank fraud and five counts of bank fraud. In addition, Terrance Yates is charged with five counts of money laundering.
