Former vice president of photocopy business charged with money laundering, theft

CEDAR RAPIDS — A former vice president of a Cedar Rapids photocopying business was arrested Tuesday for using company credit cards to buy nearly $150,000 in personal items, and for rolling the negative equity on his personal car into a refinancing deal for another car paid with company funds.

Cody James Laufer, 37, of Hiawatha, was charged Tuesday with money laundering — conduct transaction and first-degree theft — possession/control of property.

Sixth Judicial Associate District Judge Russell Keast, during an initial appearance, set a $20,000 cash/surety bail. Laufer paid it after the hearing and was released from jail pending trial.

Laufer, who is the former account manager and vice president of Cedar Rapids Photo Copy Inc., 3050 Sixth St. SW, is accused of charging about $33,289 on one company credit card and $29,326 on another. He used the cards to purchase personal items between Nov. 17, 2015 and May 29, 2021, according to complaint.

Within the same time period, he also used an Amazon account that was paid by the company to purchase personal items totaling about $83,585, the complaint states.

Laufer also purchased a company vehicle with company funds by rolling negative equity from his personal vehicle into that loan, refinancing it and keeping it in his name, according to the complaint.

If convicted, Laufer faces up to 10 years in prison on each charge.

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