An Alton credit union has filed suit against 14 individuals, including its president, saying the president authorized loans on the basis of numerous false financial statements or collateral that was not the worth the value represented.

Alton Bell Community Credit Union claims it lost hundreds of thousands of dollars after its president, defendant Ann Lilleberg, allegedly allowed the bank to loan money to the 13 individuals who have not repaid their debts.

Defendant Jake A. Anderson, for instance, was provided financing for a 1987 Dodge D150 and for a 1998 Ford Contour, but has failed to make required payments on the vehicles. He also took out a loan in October 2009, but failed to make payments on that, the suit states. Alton Bell relied on misrepresentations Anderson made on his credit applications when it gave him the loans, according to the complaint filed March 19 in Madison County Circuit Court. Now Anderson owes Alton Bell $4,264.84 for the Dodge, $6,698.78 for the Ford and $3,866.39 for the other loan, plus interest.

Defendant Austen Chestnut financed a 2007 Chevrolet Suburban. However, the bank later learned the Suburban was actually a 2003 model and worth much less than represented, the complaint says. The bank repossessed the vehicle after Chestnut failed to make payments, but Chestnut still owes it $27,368.42, Alton Bell claims.

Meanwhile, defendant Sarah Burkett entered into a line of credit in February 2010, but has failed to repay the bank the $1,852.89 she owes, the suit states. Defendants Chris Kreider and William C. Beiser also entered into a line of credit in July 2009, but failed to repay the credit union the $6,219.66 they owe it, the complaint says.

In addition, Chris Kreider has failed to pay an additional $8,487.54 for another line of credit, $3,714.97 for a third line of credit, $6,587.39 for a 1976 Prowler, $488.11 for a 2010 non-tilt trailer, $5,322.21 for a 1997 Chevrolet C1500, $12,731.36 for a 1973 Chevrolet Monte Carlo, $39,883.48 for a 2010 John Deere CT332 and $8,315.97 for a 2007 Palomino Pony, the credit union alleges.

Defendant Jessica Kreider entered into a line of credit in December 2009, but failed to repay the $2,719.42 she owes, the complaint says. She also failed to pay $12,495.95 for the 2001 GMC Yukon she financed through the bank and $25,307.68 for the 2005 Chevrolet Silverado she financed, according to the complaint.

Defendant Emilee M. Gibson owes $21,888.31 for a 2008 Cadillac STS-V she financed from the credit union while defendant Ethan Holmes owes $11,791.04 for the 2001 GMC he financed and an additional $5,036.17 for a loan borrowed from the bank, according to the complaint.

In addition, defendant Austin Osborne owes $27,982.50 for a 2004 Buck ATV and a 2009 John Deere tractor he financed through the credit union and $356.45 for a line of credit, the suit states.

Defendant Cory Hutchinson financed a 2007 GMC Yukon Denali, but still owes $36,856.70, the suit states.

Defendants Kyle Berry and Nick Cline borrowed $8,715 to purchase a 1998 Chevrolet C1500, but still owe $6,911.87 for the vehicle, the complaint says. They also entered into a line of credit and owe $3,005.77 on it, according to the complaint.

Finally, defendant Patty Kreider financed a 2007 GMC Sierra, but still owes $32,570.60 for the vehicle, the credit union alleges.

Alton Bell says its president, Ann Lilleberg, allegedly breached her fiduciary duty to the company by approving the loans, despite the false financial statements and inappropriate collateral provided by the defendants.

In addition to the money it is owed, Alton Bell is seeking costs, attorney's fees and other relief the court deems just. It is also seeking more than $50,000 from its president, Ann Lilleberg.

It will be represented by Nelson L. Mitten and Julie K. Graham of Riezman Berger in St. Louis.

Madison County Circuit Court case number: 12-L-340.

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