Canton Man Pleads Guilty to Bank Fraud

US Attorney Brendan V. Johnson announced that Mark Ross, age 38, of Canton, South Dakota, appeared before Chief US District Judge Karen E. Schreier on April 3, 2012, and pled guilty to an indictment that charged him with Bank Fraud. The maximum penalty upon conviction is 30 years' imprisonment, a $1 million fine, or both. Restitution may also be ordered.

Between about August 1, 2010, and December 31, 2010, Ross executed a scheme to defraud Home Federal Bank. He used checks belonging to Karen Ross to open an account at Home Federal Bank and deposit money into that same account. At that time, he knew that he did not have authority from Karen Ross to do so. He then withdrew funds and passed checks on that same account, knowing that the funds in the account did not belong to him and that the amounts for which he made withdrawals and wrote and passed the fraudulent checks exceeded the balances in the account.

The investigation was conducted by the Federal Bureau of Investigation. The case is being prosecuted by Assistant US Attorney Kevin Koliner.

A presentence investigation was ordered, and sentencing is scheduled for June 25, 2012. The defendant was released on bond pending sentencing.