A Highland man will be behind bars soon after he was convicted of bank fraud.
Larry Swetnam, 59, pleaded guilty to bank fraud, a class B felony. The indictment was waived and Swetnam pleaded guilty to an information, a charging document brought by the U.S. attorney.
Swetnam engaged in a check kiting scheme in order to defraud First National Banking Company, according to the court information.
U.S. District Judge G. Thomas Eisele sentenced Swetnam to 18 months in prison. He is to surrender to authorities by 2 p.m. Jan. 8. He is also to pay $217,050 in restitution to First National Banking Company. He is also to pay $100 in court costs.
Once he is released he is to serve three years of supervised released.
This is the second time Swetnam has been charged with bank fraud.
In 2001 while operating Pioneer Auction, Swetnam was convicted of bank fraud with co-defendant Allen Brogdon. The two collectively were ordered to pay $715,869.54. Swetnam was sentenced in September 2003 to 36 months probation. Brogdon was sentenced to time served and three years supervised probation.
In June the U.S. attorney filed the case against him. Swetnam waived indictment and was released on his own recognizance.
One month later he was brought back in federal court after he violated conditions of his release -- not to commit another crime -- because of the case brought against him the month before. He also hadn't paid restitution since January 2006. At that time he was sentenced to 12 months in the Bureau of Prisons.
The time Swetnam spends in prison will run concurrently with the probation violation sentence.