SOUTH BEND – The man who owned a popular Edwardsburg restaurant that burned two years ago pleaded guilty to an unrelated charge of bank fraud. Troy Treat, co-owner of T & R Investments, admitted to his involvement in a fraud scheme that swindled the former Standard Federal Bank, now Bank of America, out of nearly $400,000.
U.S. District court documents say Treat used "false statement and pretenses" on loan applications he filled out for his company, T & R Investments, back in 2005. The documents also say Treat claimed he or T & R Investments owned more than $12.3 million in real estate investments when, in fact, he did not. In addition, the allegations say he lied about monthly rent amounts his company was earning from rental properties.
Prosecutors say Treat also made up a fake lease agreement in his attempt to get a loan from the bank. That agreement allegedly said T & R Investments had entered into a lease agreement with a local restaurant for $7,500 a month, but investigators found that information to be bogus.