Former business owner Hockett sentenced for bank fraud

A federal judge this morning sentenced a former Indianapolis business owner to 18 months in prison after he pleaded guilty to bank fraud in May. Brian Scott Hockett, 45, also was ordered by Judge Sarah Evans Barker to pay nearly $2.5 million in restitution. Hockett committed the fraud during a three-year period ending in 2006, while owner of Family Management Corp., according to the U.S. Attorney for the Southern District of Indiana. The company was a wholesaler of used vehicles operating as Fleetmax. The federal charges said Hockett fraudulently diverted about $2.5 million from lines of credit to buy stock in a public company and hid the diversion from the banks by falsifying reports he filed with them. Posted in: Internal Fraud