ALGONQUIN – The former owner of the Riverside Square development in Algonquin was charged with bank fraud Monday in connection with the collapse of the multimillion-dollar development.

Bruce Hawkins, 62, formerly of Algonquin, was charged with eight counts of bank fraud for allegedly defrauding Amcore Bank of more than $1 million, a news release from the U.S. State's Attorney in the Northern District of Illinois states.

The federal indictment contends that Hawkins, acting through Riverside LLC, obtained in 2006 a $13.5 million loan to finance the luxurious Riverside Square condominium project.