Man pleads guilty to fraud that cost banks nearly $800,000

OMAHA, Neb. (AP) - A 59-year-old Plattsmouth man has pleaded guilty to fraud that cost two banks nearly $800,000.

Prosecutors say Mark Tincher entered the plea Monday in U.S. District Court in Omaha. He’s scheduled to be sentenced June 12.

Prosecutors say that between April 2010 and June 2010, Tincher manipulated checks between four banks at which he maintained accounts. His action, called check kiting, artificially inflated the balances.

At one time Tincher ran Tincher Chevrolet Oldsmobile in Plattsmouth. It closed in July 2011. In May 2014 the U.S. Labor Department sued him, saying neither Tincher nor his company appointed anyone else to administer and manage a 401(k) retirement plan he’d set up. The lawsuit was settled later.