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Developer Pleads Guilty in $19M Fraud

December 2, 2002

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WICHITA, Kan. (AP) _ One day before he was to go on trial, businessman Dick Boushka pleaded guilty Monday to defrauding a bank of $19 million.

Boushka, 68, developer of shopping centers and a racetrack, was indicted by a federal grand jury in May on 60 counts of bank fraud, wire fraud and other offenses.

Under an agreement with the U.S. Attorney’s office, he pleaded guilty to two counts of bank fraud and one count each of making a false statement to obtain a bank loan and omission of information for the sale of a security.

U.S. District Judge Wesley Brown set sentencing for March 3.

Prosecutors agreed to recommend sentences at the lower end of the federal guidelines, which call for maximums of 30 years and a $1 million fine on the fraud and false statement charges, and five years and a $10,000 fine on the omission of information charge.

Prosecutors say Boushka falsified loan documents to bilk American Bank out of $19 million. Hillcrest Bank bought American Bank in 1999.

Boushka came to Wichita in 1955 to play basketball for the Vickers oil and gas company, which had a team in the National Industrial Basketball League. He eventually ran Vickers Energy Corp. and also developed the Brittany shopping center in Wichita and the Woodlands Race Track in Kansas City, Kan.

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