LEXINGTON, Ky. (FOX 56) – Christopher “Rusty” Custer was sentenced to 41 months in federal prison on Wednesday.

Custer, who court documents show had previously falsified his status as an armed service veteran, pleaded guilty to bank fraud on Oct. 21, 2022.

In his plea agreement, he admitted to lying to Traditional Bank to get two loans totaling more than $1.5 million to purchase a home and property to be used for a horse-based business. Custer also admitted to lying to another individual to obtain a $75,000 personal loan.

Custer said he provided the bank and the individual with falsified personal financial statements accredited through doctored documentation from other well-known financial institutions which suggested his net worth exceeded $6 million.


His actual records from these financial institutions suggested he had at most $100 in one account, according to a news release.

Custer is said to have exaggerated the value of his personal assets, claiming to own nearly $300,000 in household items and furniture when seeking the loans, but later admitted he owned roughly $20,000 worth of these items when he filed bankruptcy.

After foreclosing on the property he bought with the loan and repaying the individual, Custer still owes more than $500,000 in restitution, according to the plea agreement.