WXOW News 19 La Crosse, WI – News, Weather and Sports |Former Tomah car dealers charged with bank fraud
Member Center:
MADISON, Wisconsin (WXOW) - Two former Tomah car dealers are charged in federal court with bank fraud of more than $2 million from two local banks.
Stephen P. Sinnott, Acting US Attorney for the Western District of Wisconsin announced the charge against Timothy F. Vernier, 57, and Stephen N. Vernier, 63, both of Tomah.
The charge came about following an FBI investigation into the pair. That investigation developed information that the pair, through their dealership, Morris-Vernier Motor Sales, made false statements to two banks in Tomah from 2004 into 2008.
Farmers & Merchants Bank of Tomah lost $1,767,353.84 and First Bank of Tomah lost $296,861 during that time.
If convicted, each faces up to 30 years in prison.
