116 3rd St SE
Cedar Rapids, Iowa 52401
Coggon farmer admits to $7 million fraud
Adam Carros
Mar. 12, 2012 3:53 pm
A Linn County hog farmer admitted to scheming his bank out of nearly $7 million over a two-year period in federal court in Cedar Rapids on Monday.
David LeClere, 58, of Coggon, pleaded guilty to one count of bank fraud and now 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 packing plants owed him more money than they actually did. The fraud occurred between March of 2007 and May of 2009 and cost the bank $6.9 million.
LeClere remains free on bond pending a sentencing date, which has not been set.
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