A Grand Island couple has been convicted of lying to banks to receive loans which led to the accumulation of $850,000 in loan debt.
A United States District Court jury returned the guilty verdicts Wednesday in Omaha for Billy Nesiba, 67, and Carol Nesiba, 65. Following a two-week trial, the couple was convicted of one conspiracy count and five counts of making false statements to banks.
The Nesibas used a business, Bill's Classic Auto in Grand Island, to retain loans from multiple banks across Grand Island.
They submitted a series of false personal financial reports when seeking out the loans. The statements substantially underreported the amount of loans they already had due or didn't include some bank loans at all.
Each bank involved granted the couple a series of loans based of their false financial reports which ultimately went intodefault causing approximately $850,000 in loan debt to fall to the banks.
Sentencinghas been set for February 15, 2013.