Father, son plead guilty in restaurant fraud scheme
SPRINGFIELD, Mo. (AP) – A southwest Missouri restaurant owner has pleaded guilty to federal charges stemming from defrauding banks out of more than $5.5 million in commercial loans.
Federal prosecutors in Kansas City said Wednesday that 68-year-old Bruce Swisshelm of Battlefield, pleaded guilty to bank fraud and money laundering. His son, 43-year-old Bruce Swisshelm II, of Springfield, pleaded guilty to misprision of a felony.
The elder Swisshelm was the owner of Horned Frog Deli, Inc., and Swisshelm Properties, which specialized in the restaurant industry and owned several Springfield area restaurants.
Prosecutors say Swisshelm admitted submitting false financial documents in 2011 to a bank for nearly $5.6 million in commercial loans. His son admitted that he knew about his father’s bank fraud scheme.
Sentencing hasn’t been set.