A Nashville, Tennessee man has been convicted of seven counts of bank fraud for submitting false invoices from a modular home manufacturer based on down payments that were not in fact received, and then misrepresenting the status of construction of the homes. Keith Churn made false statements to the bank to conceal his scheme, transferring the funds to a bank account under his control and then failing to make interest payments on behalf of people who had applied for the construction loans, according to hispanicbusiness.com. The bank was a federally insured financial institution, as MHProNews has learned, which spurred the investigation by the U. S. Secret Service. Churn faces 30 years in prison for each count, as well as fines and forfeiture of the money derived.

(Photo credit: correctionalnews.com–modular prison)