$45 million Dollar Bank Fraud: A Nebraska financial advisor involved in helping defraud banks out of $45 million has been sentenced to federal prison. U.S. District Judge Susan Bazis called his actions “deliberate and calculated.”
Jesse Hill, 35, from Hickman, assisted Lincoln businessman Aaron Marshbanks in deceiving nearly 20 financial institutions into approving massive loans for fake real estate projects. Hill received a five-year federal prison sentence on Thursday.
This case is one of the largest bank fraud schemes in Nebraska history. It came to light shortly after Marshbanks was found dead from a drug overdose in a downtown Lincoln parking garage in 2022.
Courtroom Filled with Supporters
During sentencing, the courtroom was packed with supporters from Hill’s church—Country Bible Church. Hill, a husband and father of three young daughters, served on the church board and taught Sunday School.
However, Judge Bazis emphasized that his crimes were not a single mistake but part of a long-running scheme involving repeated, multi-million-dollar loan applications.
She pointed out that banks ultimately lost more than $30 million, which erased profits and denied employees bonuses and raises.
“You were essential to making this scheme work,” Bazis told Hill. “This would not have happened without you.”
She also said Hill’s actions were completely opposite of the character described in over 50 letters of support submitted to the court.
Prosecution vs. Defense
Assistant U.S. Attorney Don Kleine sought at least 97 months in prison, saying Hill helped defraud more than 20 financial institutions.
Hill’s attorney, Pat McInerny, argued for a lighter sentence of 36 to 48 months, citing Hill’s strong community support and belief that he wouldn’t reoffend.
McInerny described the support as proof Hill could rebuild his life after prison.
Hill Apologizes in Court
Hill read a written apology, expressing regret to his wife, children, church, and community. His wife sat behind him, holding back tears.
“I’ll spend the rest of my life repairing my reputation and paying restitution,” he said.
Hill said he saw Marshbanks decline mentally and financially—working out excessively, mixing painkillers with protein shakes, and constantly seeking new loans to cover losses.
“I didn’t have the courage to confront him,” Hill admitted. “I lacked humility and made serious mistakes.”
Judge Bazis said Marshbanks’ death left Hill to face the consequences alone, including restitution and prison time. She said the 60-month sentence was appropriate for his intentional actions.
Luxury Purchases and Seized Assets
According to court records, the fraudulent loans were used to cover investment losses, prior debts, and luxury items.
As part of Hill’s plea agreement:
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A $900,000 villa in Puerto Rico was seized.
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Interests in a multi-million dollar Pilatus airplane were taken.
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Money in an investment account was confiscated.
It’s unclear whether Hill will have to sell his $1.2 million home near Hickman.
Marshbanks had also begun building a luxury home and barndominium on Lincoln’s edge using these funds. The property was later sold to pay back part of a bank loan.
Background on Marshbanks and Ongoing Investigation
Marshbanks, a 6-foot-6 former basketball star and churchgoer, shocked the community when the fraud came to light. He died in November 2022 after overdosing on three types of drugs.
Authorities say Hill provided fake financial documents to banks to secure loans for Marshbanks.
In June, Hill agreed to plead guilty to one count of conspiracy to commit bank fraud. Other charges were dropped under the plea deal.
A court-appointed receiver has spent the past three years trying to recover assets from the Marshbanks estate to repay banks, credit unions, and savings institutions in Nebraska and other states like Wyoming and Louisiana.
This includes attempts to access cryptocurrency investments, many of which lost significant value during the market crash in 2022.
The search for remaining assets is still ongoing.
