Date: October 28, 2020 Contact: email@example.com Jason Michael Siemer, of Fremont, Nebraska, was sentenced today in Lincoln, Nebraska, by Senior United States District Judge Richard G. Kopf for making false statements on loan and credit applications. Siemer was sentenced to 12 months and 1 day in prison and will also serve 4 years on supervised release. He was ordered to pay $500,000 in restitution. There is no parole in the federal system. Siemer was the sole owner and operator of Siemer Auto Center, LLC, which was based in Dodge County, Nebraska for approximately eight years until the company dissolved and ceased operating in December 2016. Siemer operated his company by bidding on vehicles at auctions that he would then turn around and resell to his customers. The purchase money for the vehicles at auction was obtained through financing that Siemer sought out and obtained from companies known as "floor plan lenders," from certain financial institutions whose accounts are insured by the Federal Deposit Insurance Corporation. "In 2016, Mr. Siemer knowingly defrauded a financial institution when he failed to disclose that he had a debt with an additional lender," said Adam Steiner, Acting Special Agent in Charge of the IRS Criminal Investigation division in the St. Louis Field Office. "The results of the investigation conducted by IRS CI and its law enforcement partners revealed the depth of his fraudulent dealings. Today, Mr. Siemer has ultimately been held accountable." As part of the process of obtaining a credit line from these companies, Siemer was required to submit financial statements that included an accurate accounting of his existing debts and assets for the companies and financial institutions to consider in their determination of whether to approve the line of credit for Siemer Auto Center, LLC. Siemer failed to disclose all of the relevant financial information required. The intentional and material failure to disclose that financial information was designed for the purpose of influencing the lenders to maintain and renew the loan agreement with Siemer. This case was investigated by the Internal Revenue Service Criminal Investigation and the Federal Bureau of Investigation.