Two businessmen charged in $100 million bank loan fraud
BY KIM JANSSEN Federal Courts Reporter February 28, 2014 12:14PM
Updated: April 2, 2014 6:09AM
The owner of a bankrupt Palatine company and his alleged accomplice conned banks into handing them $190 million in loans, according to a federal indictment handed down Thursday.
Mark Anstett, 58, of Lake Forest, lied about his semiconductor business, Equipment Acquisition Resources, to get the loans between 2006 and 2009, prosecutors alleged. When his company went belly up, the banks lost $100 million, the feds say.
Anstett allegedly teamed up with George Ferguson, 69, of Carlisle, Pa., and former Chicago resident Sheldon Player, who died in November, to pull of the scam.
Federal prosecutors are now trying to seize a Wyoming bed and breakfast that Player allegedly financed with the fraudulent loans. Player was previously federally convicted of fraud in Arizona.
Anstett and Ferguson are each charged with five counts of wire fraud, four counts of bank fraud, and one count of mail fraud. They have yet to appear in court.