Two central Illinois residents have been indicted on federal charges alleging that they defrauded a boat dealership and others out of more than $2 million.
Jeffrey D. Gibbs, 55, of Farmer City and Kara M. Wilkey, 45, of Maroa were both indicted by a federal grand jury on charges of wire, mail, and bank fraud as well as aggravated identity theft.
Gibbs and Wilkey are former employees of Mid Illinois Boats, Inc., which does business as Clinton Marine II. Federal prosecutors allege that they defrauded that dealership, its customers, and banks through a “multifaced fraud scheme.”
The pair allegedly used that money for personal expenses, including spending it on automobiles, vacations, credit cards, utilities, and shopping, prosecutors allege.
Clinton Marine II operated boat dealerships in both East Peoria and Weldon, Illinois. Gibbs and Wilkey allegedly used their positions at the company from 2014 to 2019 in the scheme prosecutors said included obtaining loans on “fictitious boats” and false transactions and “taking out loans using forged signatures.”