Investment adviser pleads guilty in bank fraud case

A Hickman investment adviser pleaded guilty in federal court to conspiracy to commit bank fraud in connection to what is believed to be one of the largest cases of its kind in the state.

The United States Attorney's Office for Nebraska charged Jesse Hill, 35, on Monday. He entered the plea the same day.

Hill faces up to 30 years in federal prison and a fine of up to $1 million. U.S. Attorney Lesley Woods said Hill also has agreed to pay restitution and forfeit any interest in a property in Puerto Rico, a PC-12/47E Pilatus Aircraft and funds in a Charles Schwab account.

Aaron Marshbanks, Hill's former partner, wasn't named in a news release, instead referring to him as "Individual 1," who ran a real estate business in Nebraska and died Nov. 2, 2022.

Following Marshbanks' death that day in a downtown Lincoln parking garage, bankers across the state began reporting that he had taken out millions in loans based on financial statements misstating the value of his collateral provided by Hill.

PRISON BID: The Nebraska Department of Correctional Services has chosen Lincoln-based Hausmann Construction to build its new 1,512-bed prison in northeast Lincoln.

Corrections officials said the three proposals it received were within the $350 million budget set by the Legislature in 2023. A $313.3 million bid was the lowest given to replace the Nebraska State Penitentiary.