indexSPRINGFIELD, Mo – A man has been convicted in federal court Friday, October 30, 2015 on counts of bank fraud.

A statement issued November 2 by the US Justice Department says a Bois D’ Arc resident, Michael Ussery, 58, was found guilty of 12 counts of fraud.

Ussery prepared false invoices and lien waivers which were submitted to Mid-Missouri Bank for drawing money from a 1.6 million dollar loan.  The loan had been granted by the bank for the purpose of completing the construction of a residence. Auditors came to the conclusion that the money had not been spent on construction, but instead used for two business owned by Ussery.

A maximum 30 year sentence for each count is a possible sentence awaiting Ussery, plus fines and restitution.