A hog farmer who defrauded a northeast Iowa bank out of almost $7 million was sentenced on Thursday, June 21, 2012, to more than eight years in federal prison.
David LeClere, age 59, from Coggon, Iowa, received the prison term after a
March 12, 2012 guilty plea to one count of bank fraud.
At the plea hearing and in a written plea agreement, LeClere admitted
engaging in a scheme to defraud a northeast Iowa bank from approximately March
2007 through May 2009. LeClere admitted he defrauded the bank by knowingly
providing the bank with false information each month, falsely inflating the
number and weight of his hogs, and falsely inflating his accounts receivable by
reporting that packing plants owed him more money than they did. LeClere further
admitted defrauding the bank by redepositing on multiple occasions checks he had
received as payment from packing plants. The bank lost at least $6.9 million
through the fraudulent scheme.
LeClere was sentenced in Cedar Rapids by United States District Court Chief
Judge Linda R. Reade. LeClere was sentenced to 96 months’ imprisonment. A
special assessment of $100 was imposed, and he was ordered to make $8,274,887.69
in restitution to the victim bank. He must also serve a five-year term of
supervised release after the prison term. There is no parole in the federal
LeClere is being held in the United States Marshals custody until he can be
transported to a federal prison.
The case was prosecuted by Assistant United States Attorney C.J. Williams and
investigated by the Federal Bureau of Investigation.
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