Former business owner owes $2.6 million, bank says

By Angelica Saylo Pilo | Oct 26, 2018

EDWARDSVILLE — A former Madison County business owner is accused of owing approximately $2.6 million. 

Bank of Rantoul filed a complaint on Oct. 16 in Madison County Circuit Court against Vern Van Hoy.

According to the complaint, the defendant took out a loan from the bank for $3.5 million for his business. The business closed and the defendant stopped making payments, the complaint states. The defendant now owes approximately $2.6 million. 

The plaintiff requests a trial by jury and seeks judgment against the defendant for the amount due, plus attorney's fees, costs and accruing interest. It is represented by George E. Marron III of George E. Marron III, Attorney at Law in Highland.

Madison County Circuit Court case number 18-L-1365

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George E. Marron III, Attorney at Law Madison County Circuit Court

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