Man Faces Charges For Allegedly Defrauding FSA, Bank

Hunter Olson of Plentywood is facing charges after allegedly defrauding the Farm Services Agency and a Wolf Point bank of more than $269,000. Charges against Olson include conversion of secured property, bank fraud, wire fraud and aggravated identify theft. Maximum penalties include 57 years in prison, a $1,750,000 fine and 12 years of supervised release.

According to court documents, Olson allegedly November 2017 through forged signatures, sold collateral without remitting payments and fraudulently sold crops in the name of a third party, all of which was designed to defraud Farm Service Agency and Western Bank of Wolf Point from November 2017 through January 2019. As a result, Western Bank lost $40,004.65 and the Farm Service Agency lost $229,285.21.

Court records state that Olson alledely sold and otherwise disposed of secured property without disclosing the transaction and receipts of monies from the sale of the security, remitting the proceeds of those sales and obtaining the authorization of Farm Service Agency for other disposition.

For the charge of bank fraud, charging documents claim that Olson knowingly executed and attempted to execute a material scheme and artifice to defraud and to obtain funds owned by, and under the custody and control of Western Bank and Farm Service Agency. He allegedly sold collateral without remitting payments, and fraudulently sold crops in the name of a third party, all of which were designed to defraud the Farm Service Agency and Western Bank.