Contractor Charged with $188K in Bank Fraud Scheme Using Fabricated Lien Waivers

INDIANAPOLIS- Richard Turner, 38, of Yorktown, Indiana, has been charged in a federal indictment alleging nine counts of bank fraud.

According to court documents, Turner worked as a general contractor and owned Turner Remodeling LLC. In March 2025, Company A, a healthcare facility in Muncie, Indiana, hired Turner for an expansion and renovation project. On April 5, 2024, Company A obtained a construction loan of approximately $785,225 from Bank A to pay Turner and his business for the work. Under the loan agreement, Bank A would release funds only after Turner submitted lien waivers certifying that he had paid subcontractors for their services, including plumbing and electrical work not performed by Turner Remodeling LLC.

Instead, Turner allegedly submitted falsified lien waivers to Bank A, claiming that five subcontractors had completed work they did not perform. He is also accused of forging subcontractors' signatures-individuals who never agreed to perform the renovations. After receiving funds from the bank, Turner allegedly used the money for personal expenses, including gambling. In total, he is accused of stealing $188,000 through the submission of nine fraudulent lien waivers.

FBI Muncie is investigating this case. If convicted, Turner will be sentenced by a federal district court judge, who will consider the U.S. Sentencing Guidelines and other statutory factors.

U.S. Attorney Wheeler thanked Assistant U.S. Attorney Adam Eakman, who is prosecuting this case.

An indictment or criminal complaint are merely allegations, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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