Iowa City property manager accused of misappropriating $16,000

IOWA CITY - An Iowa City man is accused of misappropriating more than $16,000 from a real estate company he was working for.

Jacob C. Schwebke, 30 was a property manager working as an agent for Lepic-Kroeger Real Estate, 2346 Mormon Trek Blvd., according to a police criminal complaint,

Police said Schwebke was entrusted with two real estate bank accounts to carry out his duties. From December 2018 to April 2019, Schwebke misappropriated funds from those accounts by writing checks to himself and transferring funds to his own accounts, the criminal complaint said.

Over the course of a year, Schwebke misappropriated $16,366.35, police said.

He was arrested Wednesday and faces one count of first-degree theft, a Class C felony punishable by up to 10 years in prison.

He was released from the Johnson County Jail on Wednesday after posting bond.

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