Huxley Man Sentenced on Fraud Charges
| U.S. Attorney’s Office March 05, 2010 |
DES MOINES, IA—On March 5, 2010, Mark Alan Ehresman, 35, of Huxley, Iowa, was sentenced to 120 days’ home confinement to be followed by a period of supervised release for charges of bank fraud, announced United States Attorney Nicholas A. Klinefeldt. Mr. Ehresman devised and participated in a scheme to obtain construction loans from two banks totaling in excess of $1.3 million.
The conviction of Ehresman was based on loans obtained to finance residential construction projects in central Iowa through several of his corporations. United States District Court Judge James E. Gritzner ordered Mr. Ehresman to serve a five-year term of supervised release following his period of home confinement, imposed $100 in Crime Victims’ Fund assessment, and ordered Ehresman to pay restitution in the amount of $716,568.08 to Central State Bank of State Center and $209,986.55 to Valley Bank and Trust of Cedar Rapids.
This case was prosecuted in the United States Attorney’s Office for the Southern District of Iowa and was investigated by the Federal Bureau of Investigation.