Guilty plea results in 2 years federal time

Published 05/28 2014 12:02PM

Updated 05/28 2014 12:12PM

CHAMPAIGN COUNTY -- A California man will spend more than two years in federal prison for lying to a Rantoul Bank. 39-year old Michael Allen Cox pleaded guilty to making a false statement to the Bank of Rantoul, in 2008.

Cox admitted providing false information on a check worth $250,000. The money was supposed to help repair the Parkview Apartments. Cox lost the property to the bank and eventually to the Village of Rantoul at a loss of about $2 million.

He'll serve 27 months in federal prison and pay $650,000 in restitution to the bank.

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