Two accused of fraud in grain elevator operations

PEORIA— Federal prosecutors have announced the indictment of a central Illinois farmer and the manager of grain elevator for allegedly participating in a $14 million fraud scheme.

The Pantagraph in Bloomington reports (http://bit.ly/nWZ5UK ) Roberts Printz of Fairbury and Lincoln resident Timothy Boerma are accused of mail and wire fraud, with Printz also charged with bank fraud and money laundering in connection with operations at the former Towanda Grain Co.

Towanda Grain was closed by the state in May 2010 for alleged financial discrepancies. Boerma was manager at the time.

According to the indictment, Printz and Boerma worked together to defraud Towanda Grain Co., Printz’s creditors and others.

Printz’s attorney, Joel Brown of Peoria, refused to comment on the indictment. Boerma’s attorney, public defender Rob Alvarado, could not be reached for comment.