Thu April 10, 2003
Bill Erpenbeck to be sentenced in 3 or 4 months
Cincinnati, OH – Sentencing won't come for several months for Northern Kentucky home builder Bill Erpenbeck. He pleaded guilty yesterday to a federal charge he defrauded banks. Federal authorities said Erpenbeck led a three-year scheme to deliberately withhold from ten banks in Ohio and Kentucky almost 34 million dollars in required construction loan payoffs. The F-B-I said Erpenbeck diverted the money into corporate bank accounts because his company was overspending its resources. WNKU's Maryanne Zeleznik talked with Kentucky Post reporter Bob Driehaus who's been covering the story. He says the plea deal has been in the works for a while.