Visocan Admits to Check Kiting

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Jul 01, 2002
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Steve Visocan pleaded guilty yesterday to federal bank fraud charges in connection with a check-kiting scheme, according to the U.S. Department of Justice. The President of Visocan Petroleum and its three-store Pop Inn chain is scheduled to be sentenced October 17.

According to the U.S. Attorney’s office in Montana, Mr. Visocan had obtained funds totaling $988,148 when the scheme was discovered. Visocan faces maximum penalties of 30 years in prison and a million-dollar fine. The case was prosecuted in federal district court in Great Falls, Mont.

Last week, Mr. Visocan resigned his position as Treasure and Chairman-elect of the National Association of Convenience Stores (NACS), just four months before he was to be sworn in as chairman. In an emergency meeting, NACS elected Hank Armour to serve a second consecutive year as chairman.

Moderator Comment: Has executive America lost its
moral compass?

Raise your right hand and put your left hand on the Bible.
Do you swear to tell the truth, the whole truth, so help you God? [George
Anderson – Moderator
]

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