Southwestern Missouri man gets 2 years in prison in bank fraud case

2 years 7 months 3 weeks ago Thursday, March 24 2016 Mar 24, 2016 Thursday, March 24, 2016 7:40:16 PM CDT March 24, 2016 in News
By: The Associated Press

SPRINGFIELD (AP) — A southwestern Missouri man has been ordered to spend two years in federal prison on fraud charges linked to construction of his $1.6 million home.

Fifty-eight-year-old Michael Ussery of Bois D'arc was sentenced Thursday in Springfield. That's where he was convicted last October of a dozen counts of bank fraud. Ussery also was ordered to pay $1.3 million in restitution.

Federal prosecutors said Ussery submitted hundreds of thousands of dollars in fraudulent invoices and lien waivers to the bank, which then deposited the money into Ussery's personal bank account.

Ussery eventually halted construction on the house, and the bank foreclosed before taking a $782,349 loss on the sale of the partly finished house.

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