GREEN BAY, WI (WTAQ) – Federal court documents reveal that the banker accused of conspiring with a De Pere businessman to illegally funnel loans has agreed to plead guilty and will testify against Ron Van Den Heuvel.
FOX 11 reports that Paul Piikkila authorized a $240,000 loan while working at Horicon Bank for a former relative of Van Den Heuvel, which then was used by Van Den Heuvel to pay for personal expenses and other loans at different banks.
While prosecutors allege Piikkila helped arrange multiple loans after his bank instructed him not to, court documents indicate Piikkila has agreed to plead guilty for that specific transaction. Piikkila faces a maximum penalty of 5 years in prison and a $250,000 fine.
Part of the plea deal has Piikkila agreeing “to fully and completely cooperate with the government in its investigation of this and related matters, and to testify truthfully and completely before the grand jury and at any subsequent trials or proceedings.”
Both Piikkila’s attorney and prosecutors will jointly recommend that his sentencing wait until after the other case is completed.
Van Den Heuvel and his wife, Kelly, also face charges in the case. July 15 is when both are due back in court for a status conference. Ron Van Den Heuvel faces 13 counts, while Kelly faces 3.
Van Den Heuvel, who founded a company called Green Box, also faces state review for late loan repayments to the state.
