KDSN RADIO News
Thursday, October 29, 2020
Denison native sentenced after fraud scandal
A Department of Justice press release states that United States Attorney Joe Kelly announced that 45 year old Jason Siemer, of Fremont, Nebraska, was sentenced yesterday in Lincoln, Nebraska, by Senior United States District Judge Richard G. Kopf for making false statements on loan and credit applications. Siemer was sentenced to 12 months and 1 day in prison and will also serve 4 years on supervised release. He was ordered to pay $500,000 in restitution. There is no parole in the federal system.
Siemer was the sole owner and operator of Siemer Auto Center, LLC, which was based in Dodge County, Nebraska for approximately eight years until the company dissolved and ceased operating in December of 2016. Siemer operated his company by bidding on vehicles at auctions that he would then turn around and resell to his customers. The purchase money for the vehicles at auction was obtained through financing that Siemer sought out and obtained from companies known as “floor plan lenders.”
As part of the process of obtaining a credit line from these companies, Siemer was required to submit financial statements that included an accurate accounting of his existing debts and assets for the companies and financial institutions to consider in their determination of whether to approve the line of credit for Siemer Auto Center, LLC. Siemer failed to disclose all of the relevant financial information required
This case was investigated by Criminal Investigation Division of the Internal Revenue Service and the Federal Bureau of Investigation.
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