A Mitchell, S.D., dealer has been indicted by a federal grand jury for bank fraud.

William D. Weier, doing business as Auto Xpress, Inc., age 48, was indicted by a federal grand jury on Jan. 10 for bank fraud. He appeared before U.S. Magistrate Judge John E. Simko on Jan. 17, and pled not guilty to the indictment. The maximum penalty upon conviction is 30 years imprisonment and/or a $1 million fine. The charge is merely an accusation, and Weier is presumed innocent until and unless proven guilty.

The investigation is being conducted by the FBI.

Weier was released on bond pending trial. A trial date has not yet been set.

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