Prosecutors say 42-year-old Kenneth Lane Gravett fell behind on making loan payments on his motorcycle last year. They say he conspired with another individual to take the motorcycle and make it appear that it was stolen.
Prosecutors say the other person took the motorcycle from Gravett's garage in December, and that Gravett falsely reported it stolen and used the false police report to make an insurance claim.
They say the motorcycle was sold to an FBI informant for $1,500.
Sentencing is scheduled for Jan. 21. Gravett could be sentenced to up to 20 years in prison and fined up to $250,000.
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