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Cedar Rapids, Iowa 52401
Linn hog farmer pleads in $7 million bank fraud
Admin
Mar. 12, 2012 8:10 pm
CEDAR RAPIDS - A Linn County hog farmer on Monday admitted to scheming his bank out of nearly $7 million over a two-year period.
David LeClere, 58, of Coggon, pleaded guilty in federal court to one count of bank fraud. He faces up to 30 years in prison and a $12 million fine.
LeClere admitted giving his bank inflated reports on the number and weight of his hogs and claiming that packing plants owed him more money than they actually did. The fraud occurred between March 2007 and May 2009 and cost the bank $6.9 million.
LeClere remains free on bond pending sentencing, which has not been scheduled.
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