A financial adviser who helped Lincoln businessman Aaron Marshbanks swindle $45 million from nearly 20 banks and savings and loans was ordered Friday (Jan. 9) to pay lenders more than $37 million in restitution.
While it’s doubtful that Jesse Hill, a Hickman financial adviser, will ever come close to paying off the financial institutions, the order gives a final rendering of how much money is still owed on fraudulent loans used to cover catastrophic investment losses and to purchase a villa in Costa Rica and a turboprop airplane.
The scam, first reported by the Nebraska Examiner, has been described as possibly the largest case of bank fraud in Nebraska history.
Find the complete information on page 4A of the Jan. 15 edition in the Wayne Herald or subscribe today by clicking here.
Banks involved in the case include:
Access Bank;
Columbus Bank and Trust;
Charter West Bank;
First Nebraska Bank;
Home Federal Savings and Loan;
I3 Bank;
Lincoln Savings Bank;
Mid States Bank;
Nebraska Bank of Commerce;
Nebraskaland Bank;
Security National Bank;
State Nebraska Bank and Trust;
Western National Bank; and
Western Nebraska Bank.
