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MALTA RANCHER ACCUSED OF MILLION DOLLAR BANK FRAUD

NEWS RELEASE

The United States Attorney’s Office announced that during a federal court session in Great Falls, on May 22, 2012, before U.S. District Judge Sam E. Haddon, STEVEN LLOYD KNUDSEN, a 50-year-old resident of Malta, pled guilty to federal agricultural loan guarantee fraud and conversion of pledged or secured property.  Sentencing has been set for September 10, 2012.  He is currently released on special conditions.
In an Offer of Proof filed by Assistant U.S. Attorney Carl E. Rostad, the government stated it would have proved at trial the following:

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