The former CEO of a Mississippi grain storage and processing company has been indicted on federal and state charges more than a year after the company filed for bankruptcy
GREENVILLE, Miss. — — The former leader of a Mississippi grain storage and processing company has been indicted on federal and state charges, more than a year after the company filed for bankruptcy, prosecutors said Tuesday.A federal grand jury indicted Coleman on charges of defrauding farmers, banks and the Mississippi Department of Agriculture, U.S. Attorney Clay Joyner and Mississippi Attorney General Lynn Fitch said in a news release.
Federal court documents say that from June 2018 to October 2022, Coleman altered Express Grain's audited financial statements to receive a state warehouse license and lied about the amount of debt he owed on corn, wheat, soybeans or other crops held at the facility. The indictment said that Express Grain sent an email to customers on Sept. 28, 2021, with wording approved by Coleman. The message said the company was in good financial shape.
In September 2021, Express Grain had $70 million in outstanding loans from UMB Bank in Kansas City, Missouri.Fitch also said a Leflore County grand jury has indicted Coleman on five counts of making false representations to defraud government and one count of false pretenses.
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