Former Mid-West Choppers Owner Pleads Guilty to Mail Fraud
on May 28th, 2009It’s sad that even small town America seems to be falling prey to this current flood of greed and moral bankruptcy. Ponzi schemes aren’t just for Wall Street billionaires any more it would seem.
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POSTED 4:59pm 5/27/09 A former Galesburg man who owned a custom motorcycle shop that went bankrupt has pleaded guilty in federal court.
41-year old Chip Miyler, now of Creve Coeur, pleaded guilty in U.S. District Court in Peoria Wednesday to a single count of mail fraud.
A grand jury indicted Miyler last August on five counts of Mail Fraud, three-counts of Wire Fraud, and one-count of Bank Fraud.
Miyler owned Mid-West Choppers in Galesburg until late in October 2005, at which time he, his wife, and the business all filed bankruptcy before new federal rules took effect. He’s accused of taking money and motorcycles from two-dozen customers in exchange for payments on custom-made bikes — but instead, used the money for personal gain. Miyler also allegedly sold off motorcycles he claimed in an application for a bank loan he had on hand. An indictment claims Miyler told customers the bikes were being made, but actually weren’t.
Officials with the U.S. Attorney’s Office say Miyler could face as much as 30-years in prison when he’s sentenced September 10th.
Miyler could have faced as much as 30-years in prison on each charge had he gone to trial and been convicted.