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04/24/2022
Plainville man convicted in check-kiting scheme that cost banks millions
Hays Post
TOPEKA — A federal jury convicted a Plainville man of 31 counts of bank fraud, one count of making a false statement in connection with a Small Business Administration guaranteed loan, and one count of making a false statement in a loan or credit card application.
According to court documents and evidence presented at trial, Tyler Gillum, 51, of Plainville owned and operated Plainville Livestock Commission Inc. from 2006 until 2019. Between January 2015 and August 2017, Gillum wrote checks and made wire transfers between various accounts under his control at various banks in a scheme commonly known as check kiting. This is when checks are continually written back and forth to fraudulently inflate account balances tricking banks into honoring checks written with insufficient funds. Gillum’s scheme resulted in losses of more than $10 million to the banking system.
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