A jury convicted a Nebraska couple of conspiracy in connection to bank losses of $850,000.

Billy Nesiba, 67, and Carol Nesiba, 65, of Grand Island were convicted of one count of Conspiracy and five counts of Making False Statements to Banks.

According to United States Attorney Deborah R. Gilg, evidence presented at the two-week trial showed that the Nesibas, doing business as Bill’s Classic Auto in Grand Island, Nebraska, submitted a series of false personal financial statements to various banks in the Grand Island area which substantially underreported the amount of loans due and owing to each of these banks.

The included banks were Heritage Bank, Bank of Doniphan, and TierOne.

From these false financial statements, which either underreported or totally omitted the Nesibas’ debt liability to the other banks, each bank granted them a series of loans which ultimately went into default causing an aggregate loss of approximately $850,000.00 to the banks.

Sentencing has been set for February 15, 2013, before Judge Joseph F. Bataillon.

The U.S. Postal Service also investigated the case.