Springfield father, son plead guilty in fraud scheme

1 year 7 months 1 hour ago July 22, 2015 Jul 22, 2015 Wednesday, July 22 2015 Wednesday, July 22, 2015 12:27:00 PM CDT in News
By: The Associated Press

SPRINGFIELD (AP) - A southwest Missouri restaurant owner has pleaded guilty to federal charges stemming from defrauding banks out of more than $5.5 million in commercial loans.

Federal prosecutors in Kansas City said Wednesday 68-year-old Bruce Swisshelm of Battlefield, pleaded guilty to bank fraud and money laundering. His son, 43-year-old Bruce Swisshelm II, of Springfield, pleaded guilty to misprision of a felony.

The elder Swisshelm was the owner of Horned Frog Deli, Inc., and Swisshelm Properties, which specialized in the restaurant industry and owned several Springfield area restaurants.

Prosecutors said Swisshelm admitted submitting false financial documents in 2011 to a bank for nearly $5.6 million in commercial loans. His son admitted that he knew about his father's bank fraud scheme.

Sentencing hadn't been set Wednesday.

 

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