IA - Four employees and the owner of a failed farm implement dealership have pleaded guilty in connection with a financial scheme.
Authorities allege Walterman Implement in Dike scammed lenders through a double financing scheme, which created both real and fake loans on single pieces of farm equipment.
Leon Walterman was the former owner. The 60-year-old pleaded guilty on Thursday to mail fraud, money laundering and illegal wiretapping. (more)
Court records allege auditors' phone lines were tapped during the investigation. (more)
