A Louisiana RV dealer will spend the next three years in prison for bank fraud, according to the Shreveport Times.
Randall Brazzell, former owner of Randy’s Travel Town in Shreveport, also must pay $276,819.56 in restitution, according the U.S. Attorney’s Office. U.S. District Judge Donald Walter sentenced him Thursday (Sept. 14).
Brazzell, 59, was indicted in February on one count of bank fraud stemming from a scheme in which he defrauded People’s State Bank from 2001-2004 by using inventory at his business, a recreational vehicle dealership, as collateral for a loan, according to authorities.
He pleaded guilty in April and admitted he sold the collateral but neglected to remit the proceeds to the bank. Brazzell will report to prison Oct. 23.