Former Columbus Mayor Enters Guilty Plea On Federal Bank Fraud Charges

(Columbus) Businessmen and former Columbus Mayor Mike Eisenga entered a guilty plea this week on federal bank fraud charges. According to the indictment filed in October, the 49-year-old had applied for a $6.9-million-dollar loan from an Illinois credit union to purchase a commercial property in Columbus. Eisenga claimed the property was under a 20-year lease to Festival Foods and guaranteed by Supervalue Holdings but neither the holdings company nor the related documentation were legitimate. The Alliant Credit Union of Rolling Meadows, Illinois approved the loan in February of 2017 and Eisenga’s company reportedly defaulted two years later. In July of 2019, a judgement was entered in a civil lawsuit seeking foreclosure and the property sold for $2.2-million dollars in a sheriff’s sale three months later. The credit union awarded a judgement in excess of $5-million dollars. Eisenga’s company filed for bankruptcy last February but a judge dismissed the case in the summer. The fraud charge carries a maximum penalty of 30 years in prison and a one-million-dollar fine. Eisenga will remain free until his sentencing hearing scheduled for June 23rd.