Sioux Center, IA man charged with bank fraud - KTIV News 4 Sioux City IA: News, Weather and Sports

Wednesday, November 26, 2008

Sioux Center, IA man charged with bank fraud


SIOUX CENTER, Iowa (KTIV) - United States Attorney Matt M. Dummermuth announced today Calvin D. Cleveringa, 59, from Sioux Center, Iowa, has been charged with five counts of making a false entry in bank records and five counts of fraudulent participation in a bank transaction. The charges are contained in an Indictment filed today in United States District Court in Sioux City.

The Indictment alleges from about April 2001 through January 2003, Cleveringa made false entries in bank records and defrauded the bank by participating, sharing in, and receiving, directly or indirectly, money, profit, property, and benefits through loans. The loans allegedly were valued at more than $983,000.00.

If convicted, Cleveringa faces a possible maximum sentence on each count of 30 years' imprisonment, a $1,000,000 fine, a $100 special assessment, and 5 years of supervised release following any imprisonment.

As with any criminal case, a charge is merely an accusation and a defendant is presumed innocent until and unless proven guilty.

The case was investigated by the Federal Bureau of Investigation and Federal Deposit Insurance Corporation, Office of Inspector General. The case is being prosecuted by Assistant United States Attorney Forde Fairchild.

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