GREENWOOD, Miss.–The operator of a grain elevator company in the Delta has pleaded guilty to wire fraud. John R. Coleman, 47, admitted to cooking his company’s books to make Express Grain appear in better financial shape than it was in, and to receive a state warehouse license, according to court documents.
“The fraud committed by the defendant in this case has directly and adversely impacted a large number of farmers and it is important that he be held accountable for his actions,” said U.S. Attorney Clay Joyner, in a prepared statement announcing the plea.
Farmers across the Delta used the company’s services and despite the financial statements, the company went bankrupt in 2021.
Coleman will be sentenced June 13, and faces a maximum penalty of 30 years in prison.
